The billionaire responded Friday night time to a suggestion that “Twitter can purchase SVB and turn into a digital financial institution,” from Min-Liang Tan, CEO of Razer, which sells gaming computer systems.
Musk replied, “I’m open to the thought.”
Others additionally indicated their assist. “I feel Twitter might use a monetary leg,” Mikael Pawlo, head of branding at Swedish fintech agency Bokio, tweeted Friday. “Would make complete sense for all the Musk ecosystem to purchase the ruins of SVB and will additionally create a viable enterprise mannequin going ahead for Twitter.”
“What a possibility,” tweeted Kevin Paffrath, CEO of HouseHack, a real-estate and A.I. startup. “2-3 years to get a banking constitution in any other case. Simply ensure you undergo these poisonous belongings with a fine-tooth comb.”
Musk, who helped launch PayPal, took over Twitter for $44 billion in late October. He goals so as to add funds to the platform, which an acquisition of SVB would presumably assist with.
“Shopping for Twitter is an accelerant to creating X, the every little thing app,” he tweeted earlier that month. China’s WeChat gives an instance of such an app, that includes funds along with messaging, streaming, and video chats, amongst a lot else.
Twitter has been making use of for regulatory licenses and creating software program to introduce funds on the platform, the Monetary Instances reported in late January.
Fortune reached out to Twitter for remark however didn’t obtain a right away reply.
In fact, not everyone seems to be thrilled with the thought of Musk having one other distraction. Buyers in Tesla, notably, have been annoyed with Musk’s concentrate on Twitter. Musk bought billions price of Tesla inventory to assist finance his takeover of Twitter and has been preoccupied with reshaping the platform.
In December, Leo Koguan, one among Tesla’s largest particular person shareholders known as for a management change, tweeting: “Elon deserted Tesla and Tesla has no working CEO. Tesla wants and deserves to have working full time CEO.”
On Friday, a self-described Tesla investor with the Twitter deal with @sanssoli responded to Paffrath’s “alternative” remark by writing, “And promote one other $20 billion price of $Tesla inventory. No thanks!”
In the meantime, as Musk ponders changing into a banker, he may also turn into a landlord. Based on the Wall Road Journal, Musk is planning to construct his personal city alongside the Colorado River exterior of Austin, Texas. Employees at Tesla, SpaceX, and The Boring Firm would reportedly be capable of dwell in new houses there at below-market charges.
A few of them, maybe, may also be clients of Silicon Valley Financial institution, which has branches close by.
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