Elon Musk says he's 'open to the idea' of buying Silicon Valley Bank, but a Tesla investor tells him 'no thanks'
-Elon Musk tweeted late Friday he was "open to the idea" of buying the failed Silicon Valley Bank.
-A Tesla investor appeared to disapprove of the billionaire's idea, telling him "no thanks."
-Musk sold about $23 billion of Tesla stock last year to help finance his Twitter takeover.
-A Tesla investor appeared to disapprove of the billionaire's idea, telling him "no thanks."
-Musk sold about $23 billion of Tesla stock last year to help finance his Twitter takeover.
"I think Twitter should buy SVB and become a digital bank," tweeted Min-Liang Tan, cofounder and CEO of Razer, a company that sells gaming computers.
Musk said in a short response "I'm open to the idea," without giving further context.
Musk said in a short response "I'm open to the idea," without giving further context.
One Twitter user backed Musk's idea, saying "what an opportunity," but another called Sanjay responded: "And sell another $20 billion worth of $Tesla stock. No thanks!"
Silicon Valley Bank was shut down on Friday by US regulators following a run on deposits, Insider's Sindhu Sundar explained. Startup founders moved to withdraw funds on Thursday, rattled by the bank's falling stock price that followed a capital raising announced on Wednesday night.
The bank is now being handled by receivers, potentially delaying access to deposits for a considerable period of time. Some hope that a buyer will come forward this weekend to avoid such a scenario.
Silicon Valley Bank was shut down on Friday by US regulators following a run on deposits, Insider's Sindhu Sundar explained. Startup founders moved to withdraw funds on Thursday, rattled by the bank's falling stock price that followed a capital raising announced on Wednesday night.
The bank is now being handled by receivers, potentially delaying access to deposits for a considerable period of time. Some hope that a buyer will come forward this weekend to avoid such a scenario.
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