Dogecoin co-founder Jackson Palmer has criticized centibillionaire Elon Musk’s unsolicited offer to buy social media giant Twitter for $43 billion.
While Musk told the US Securities and Exchange Commission that his offer is “good” for free speech, some argued that he is the last person who should take over one of the most influential social media companies due to his track record of juvenile online harassment.
Palmer claims that associating any type of “freedom” with the world’s richest man launching a hostile takeover of Twitter takes “some pretty impressive mental gymnastics.”
Last July, Palmer lashed out at the cryptocurrency community in a viral tweet, claiming that the industry is controlled by a powerful cartel of wealthy figures. The Dogecoin co-founder said that he would no longer discuss any crypto-related topics after parting ways with the “toxic” cryptocurrency community all the way back in 2015.
Musk’s controversial offer was predicted by many analysts. After acquiring a 9.2% passive stake in the company and becoming its largest shareholder, the Tesla boss backed away from his plan to join Twitter’s board of directors in order not to limit his maximum stake to 14.9%.
The centibillionare’s audacious plan to take over Twitter is likely to go awry. According to a report by The Information, which cites a source familiar with the matter, Musk’s offer is viewed as “unwelcome” by the company’s board of directors. Saudi Prince Alwaleed bin Talal Al Saud, one of the social media platform’s top shareholders, has already rejected the deal in a tweet.