Text Messages Reveal Sam Bankman-Fried and Elon Musk Discussed Twitter Buyout

Updated by Ali Martinez
In Brief
  • Sam Bankman-Fried was reportedly "interested" in buying Twitter.
  • Elon Musk's discovery process revealed a conversation with SBF.
  • Still, Musk passed on proposal after spotting red flags.
  • promo

    Invest and Seaside Club Will Do the Rest Read Now

Recently revealed messages suggest that an advisor close to crypto billionaire Sam Bankman-Fried (SBF) was in contact with Elon Musk. Allegedly, the conversations were over SBF’s reported interest in acquiring Twitter.

According to a Business Insider report on Sep. 28, Sam Bankman Fried’s top advisor Will MacAskill told Elon Musk that SBF was “potentially interested” in buying the social media platform.

The revelation comes from a series of private texts unveiled as a part of the discovery process in Musk’s court battle with Twitter, the report noted. MacAskill contacted Musk in March, texting about SBF’s potential interest in Twitter:

He referred to Musk’s Twitter poll on the network and free speech, adding:

“I’m not sure if this is what’s on your mind, but my collaborator Sam Bankman-Fried has for a while been potentially interested in purchasing it and then making it better for the world. If you want to talk with him about a possible joint effort in that direction.”

Elon Musk Questions Huge Amounts of Money

Musk’s response questioned whether Bankman Fried had “huge amounts of money?”. Indeed, the advisor said SBF was worth around $24 billion and could contribute between $8 and $15 billion to the takeover. SBF’s ‘real-time net worth is currently closer to $17 billion, according to Forbes.

MacAskill attempted to arrange a meeting between the two entrepreneurs. He also wanted to discuss financing with a Morgan Stanley banker in April. Still, nothing came of it, and Musk pulled out of the $44 billion takeover deal in July. Elon Musk claimed the company was unable to provide complete information on spam and bot activity.

Moreover, other texts and messages were revealed between the billionaire Tesla boss and various industry leaders. These include Twitter CEO Parag Agrawal, former CEO Jack Dorsey, and Oracle Chairman Larry Ellison.

Sam Bankman-Fried Buying Spree

Bankman-Fried’s interest in the social media platform comes as no surprise considering his recent acquisition spree. The crypto billionaire has been aggressively snapping up distressed digital asset companies to increase his crypto empire.

Earlier this week, SBF’s FTX exchange won the auction to buy up Voyager Digital’s assets for $1.4 billion. On Sept. 29, Voyager counsel filed a proposed order to authorize its sale to FTX US.

Sam Bankman-Fried and Elon Musk Discussed Twitter Buyout
Alameda Investments. Source: CrunchBase

According to CrunchBase, SBF’s research and venture firm Alameda has made 181 investments. These investments occurred since it was founded in 2017, and it reports an additional 22 investments for FTX.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.