Elon Musk Lambasts Semafor Report on Bankman-Fried’s Twitter Shares

UTC by Tolu Ajiboye · 3 min read
Elon Musk Lambasts Semafor Report on Bankman-Fried’s Twitter Shares
Photo: Depositphotos

Tesla CEO Elon Musk has criticized a Semafor report which claims that ex-FTX CEO SBF invested $100m in his private Twitter.

Elon Musk is criticizing a Semafor report regarding the Twitter shares (NYSE: TWTR) of disgraced former FTX chief executive Sam Bankman-Fried (SBF). According to the new Twitter owner, the Semafor article on Bankman-Fried is a lie. Musk further alleges that Bankman-Fried invested in and owns the news website, which represents a conflict of interest regarding unbiased coverage.

In a Twitter thread questioning the “journalistic integrity” of Semafor, Elon Musk said:

“Semafor is owned by SBF. This is a massive conflict of interest in your reporting. Journalistic integrity is [trash].”

Furthermore, the irate Tesla chief executive specifically clarified saying:

“As I said, neither I nor Twitter have taken any investment from SBF/FTX. Your article is a lie.”

Musk also shared a screenshot of Crunchbase showing Semafor’s top five lead investors. Bankman-Fried sits at the top of the investor list.

Elon Musk Attempts to Set Record Straight Regarding Semafor Report on Twitter Investment

Musk’s censure of Semafor comes on the heels of a report stating that Bankman-Fried invested $100 million in stock toward Twitter’s private acquisition. The online publication alleges that a discreet text between Musk and the embattled former FTX CEO buttresses its Twitter investor claim. According to Semafor, Musk reached out to Bankman-Fried back in May, soon after agreeing to buy Twitter, and asked for a helping hand. However, the former FTX boss explained he could not invest new money into the social media platform due to an upcoming congressional hearing. Bankman-Fried then disclosed to Musk that he had $100 million in Twitter stock, which could be parlayed towards the acquisition. According to Semafor, the Tesla CEO invited SBF to “roll the $100 million stake” he owned into a privately held Twitter.

Following subsequent developments, Semafor claims that Bankman-Fried opted out of participating in the Twitter acquisition. Nonetheless, the news channel further stated that the ex-FTX head honcho’s original $100 million stake still exists in Musk’s Twitter. Furthermore, Semafor cites an FTX balance sheet prepared last month following the closure of the takeover as proof. According to the news outlet, the document, distributed to investors in early November, listed Twitter shares as an “illiquid” asset. However, Musk’s assessment of this claim differs. According to the Twitter CEO, “No. [SBF/FTX] may have owned shares in Twitter as a public company, but [they] certainly do not own shares in Twitter as a private company.”

Bankman-Fried Walking Proverbial Tightrope Since FTX Crash

Semafor also reported that Bankman-Fried began accumulating his Twitter stake earlier this year to acquire the microblogging platform himself. Instead, the former crypto wunderkind recently lost control of FTX and is now weathering a slew of regulatory investigations and probes.

Since FTX collapsed, Semafor claims that Musk has been publicly badmouthing his “now-partner in owning Twitter”. According to the news outlet, the Tesla CEO suggested that many previously ascribed undue accolades to the 30-year-old MIT graduate.

Business News, Market News, News, Stocks
Tolu Ajiboye
Author Tolu Ajiboye

Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge. When he's not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.

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