Elon Musk may be leaning on outside investors to help finance his $44 billion acquisition of Twitter. But that doesn’t mean he’s giving those investors a say in how the company is run.
A shareholder agreement prepared by Musk’s lawyers for the equity investors shows that Musk will retain absolute authority over key decisions. It will have “sole discretion” to decide whether to pursue a sale of the company, an initial public offering or any other refinancing transaction involving the business, for example. While Musk’s purchase will make Twitter a private company, he indicated in text messages revealed in recent court proceedings that he may take it public again.
