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

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

Florida is an investor within the social media platform by the state’s pension fund and would see the revenue because of Musk’s supply of $54.20 per share — about 20% larger than the $45.08 closing value the day he made the supply. Shares of Twitter opened Monday at $48.62 a share, nonetheless $5.58 shy of Musk’s supply. Twitter shares hit an all-time excessive of $77.63 in March 2021.

MORE: Elon Musk’s huge plans for Twitter: What we all know thus far

“This can be a man that has succeeded in virtually each enterprise he’s ever carried out. And so he’ll, our state will profit, we are going to get, I believe $15, $20 million revenue from our pension fund. However then he’ll make that firm extra precious, I’ve little doubt about it,” DeSantis stated throughout a information convention in Jacksonville.

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DeSantis stated the Florida Board of Administration wrote letters to the Twitter Board of Administrators when it regarded like it could not settle for Musk’s supply.

“Look, you guys could make enterprise judgments, however you may’t veto an incredible supply simply since you don’t like Elon or since you’re fearful that he might open up Twitter,” DeSantis stated, referencing the letter despatched to Twitter’s board.

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

Mayor Lenny Curry tells Elon Musk that Jacksonville would make excellent headquarters for Twitter

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

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“In Florida, I believe we’ve carried out very effectively, significantly over the previous couple of years, attracting companies which might be producing issues,” DeSantis stated. “We’ve labored actually laborious on vocational and profession training, importing some tech firm from San Francisco has not been excessive on our record. I believe that what occurs is that they’ll have a tendency to come back in, they drive up the price of dwelling for everyone else. Yeah, they get pleasure from our decrease taxes however you recognize, what’s what are they actually offering?”