Florida to make $15-$20M in profit when Twitter completes sale to Elon Musk

JACKSONVILLE, Fla. – Gov. Ron DeSantis mentioned on Monday that Florida stands to make a $15 to $20 million benefit as soon as Elon Musk completes his acquire of Twitter for $44 billion and takes it personal.

Florida is an investor within the social media platform throughout the state’s pension fund and would see the benefit due to Musk’s be offering of $54.20 in step with percentage — about 20% upper than the $45.08 final value the day he made the be offering. Shares of Twitter opened Monday at $48.62 a percentage, nonetheless $5.58 shy of Musk’s be offering. Twitter stocks hit an all-time prime of $77.63 in March 2021.

MORE: Elon Musk’s large plans for Twitter: What we all know to this point

“This is a guy that has succeeded in almost every enterprise he’s ever done. And so he will, our state will benefit, we will get, I think $15, $20 million profit from our pension fund. But then he will make that company more valuable, I have no doubt about it,” DeSantis mentioned all the way through a information convention in Jacksonville.


DeSantis mentioned the Florida Board of Administration wrote letters to the Twitter Board of Directors when it appeared adore it would now not settle for Musk’s be offering.

“Look, you guys can make business judgments, but you can’t veto a great offer just because you don’t like Elon or because you’re worried that he may open up Twitter,” DeSantis mentioned, referencing the letter despatched to Twitter’s board.

But whilst DeSantis helps the sale of Twitter to Musk, he doesn’t need its headquarters in Florida.

RELATED: Mayor Lenny Curry tells Elon Musk that Jacksonville would make highest headquarters for Twitter

City and state leaders — together with Jacksonville Mayor Lenny Curry and Florida Chief Financial Officer Jimmy Patronis — lobbied Musk to transport the San Francisco-based corporate to uproot and head east, however DeSantis isn’t a fan.


“In Florida, I think we’ve done very well, particularly over the last few years, attracting businesses that are producing things,” DeSantis mentioned. “We’ve worked really hard on vocational and career education, importing some tech company from San Francisco has not been high on our list. I think that what happens is they’ll tend to come in, they drive up the cost of living for everybody else. Yeah, they enjoy our lower taxes but you know, what is what are they really providing?”

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