this post was submitted on 22 Nov 2023
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Technically he had a way out. He could pay 1bn to cancel the contract, but he didn't. Again, very funny if he overpaid so much to make everybody think he's so smart when he dad a "cheap" out
No he didn't. The 1 billion fine was not a "get out of the contract" option.
https://techcrunch.com/2022/04/26/elon-musks-twitter-deal-includes-a-1-billion-termination-fee-on-both-sides/
There is an excerpt of the agreement in there. Seems pretty clear to me, but I'm open to hear your interpretation.
The 1 billion termination fee only applied in very specific circumstances. He couldn't just choose to pay it because he didn't want to go ahead with the purchase.
https://www.cnbc.com/2022/05/13/elon-musk-cant-just-walk-away-from-twitter-deal-by-paying-1-billion.html
Edit: Well, to be clear he actually he could decide to pay 1 billion and walk away but he would be opening himself up to a multi-billion dollar lawsuit from Twitter for breaking the contract.
See, if he’d done that, he would have looked bad, and he couldn’t have that. He wanted out, but only if he could have the out not look like he was the one backing out. He needed it to be Twitter’s fault, same way as he’s trying to blame anyone by himself for advertisers fleeing.