Elon Musk would eliminate salaries for Twitter’s board if buyout succeeds

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By Anders Hagstrom, Fox Business 

Billionaire Elon Musk would cut the salaries of Twitter’s board of directors to zero if his ongoing attempt to purchase the company succeeds, Musk announced Monday.

Musk offered to purchase Twitter and take it private for $54.20 last week, and Twitter’s board is working to fight off the buyout. Board members currently make between $200,000 and $300,000 salaries, equating to an annual cost of roughly $3 million for the company.

“Board salary will be $0 if my bid succeeds, so that’s ~$3M/year saved right there,” Musk tweeted.

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