I don’t understand how this works. If he owned 50.1%, I get it, but not 9%.
Generally (having been to several stock-holder meetings of non-US companies), there’s a mandatory meeting held each year and it’s open only to the stock-holders. Various things will be put up to a vote....usually to bring new board members, or change the organization.
I’ve been to two meetings where a group would have arranged for massive voters, and gotten secondary stock-holders to agree to a ‘purge’ of one or two board members.
I could see a scenario where Musk talks different groups holding stock, to let a board member or two go. Short-term changes? Limited. But if you gave him three years, he could probably dump half the board members, and bring in some very unfriendly board executives that terminate key members of organization.
Stock is at $44 right now. I could see buying some shares and playing into the Musk strategy...it’s not Twitter that you need to aim at...it’s the board.
don’t understand how this works. If he owned 50.1%, I get it, but not 9%.
Gotta start somewhere