Elon Musk spent four hours with ex-Tesla shareholder and billionaire buddy Larry Ellison at a suave Malibu Asian restaurant as their legal fight with Twitter continued.
Musk, 51, enjoyed the long luxury meal with tech magnate Larry Ellison, 77, at Southern California’s trendiest eatery, Nobu, late into the night Wednesday.
Software entrepreneur Ellison, worth an estimated $106billion, is the world’s sixth richest man, according to Forbes.
Meanwhile, Musk, whose net worth is $266billion, is number one.
World’s richest man Musk (left and right, outside Nobu last night) spent four hours with Ellison
Larry Ellison (center, embracing Musk, right) is pictured at the LA hotspot as a guard watches
The pair of Tesla stockholders and onetime Twitter buyers are part of a lawsuit filed by Twitter
After dinner: Musk drops Ellison, 77, off at his car at the end of the meal late Wednesday night
The pair may have snacked on $58 crab tempura, $70 Maine lobster, or a New York steak with mushrooms, which goes for a less than slender $92.
LA’s swanky Nobu where sushi dishes go for $86
In the past month alone, Selena Gomez, Andrew Garfield, Pamela Anderson, Kourtney Kardashian and Robin Thicke have all been spotted dining at Nobu Malibu.
The A-lister haunt owned by Japanese celebrity chef Nobu Matsuhisa is one of more than a dozen branches of the chain across North America, Europe and Asia.
A Little Gem Salad will set you back a fairly reasonable $22, making it one of the more affordable items on the menu. Crispy rice soup is just $6.
But the rest of the Malibu branch menu is a little less modest.
Matushisa’s Lobster Shiitake Salad with Spicy Lemon Dressing will set you back a hefty $70, while basic sushi dish the King Crab Tempura Amazu is $58.
The most expensive sushi main is Nobu’s Lobster Tempura Truffle Amazu, which costs an incredible $86.
But that’s still not the priciest staple, with a 16oz Prime New York Strip steak and mushrooms going for just shy of $100 ($92).
Meanwhile the specialty Omakase tasting menu is $195.
And the drinks are where Nobu really makes its money, with a 60oz bottle of premium Daiginjo sake retailing for a whopping $2,800.
Still, if you want to drink more modestly, you can always grab a basic glass of Cabernet Sauvignon from California – for $120 a glass.
Nobu’s multi-course tasting menu costs just shy of $200.
It’s likely the well-fed billionaires discussed Musk’s withdrawn bid to buy Twitter, which has turned into a bitter legal feud.
The Silicon Valley firm has taken Musk to court in Delaware in an effort to force him to buy the company for the agreed price after he sensationally pulled out of the deal last month.
Ellison, who gave $1billion toward Elon’s $44billion bid, was subpoenaed by Twitter in the past two weeks.
The veteran tech billionaire has now been dragged into the ongoing court battle set to begin on October 17, Bloomberg reported.
Twitter lawyer Bill Savitt slammed Musk as a ‘liar looking to conjure an exit ramp for a deal that doesn’t have one’.
But Musk claims he shut down the deal because Twitter evaded handing over information about the number of fake and spam accounts operating on the platform.
Twitter’s lawsuit argues: ‘Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he – unlike every other party subject to Delaware contract law – is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away.’
Delaware courts have in the past forced prospective buyers to follow through on signed merger agreements, though the facts differ in each case.
In 2020, Tiffany & Co sued Louis Vuitton parent company LVHM when the luxury umbrella group attempted to back out of a deal to acquire the jewelry maker.
The litigation was settled out of court when LVHM agreed to complete the takeover of Tiffany at a slightly reduced price.
Twitter’s lawsuit will be heard in Delaware chancery court from mid-October as both Twitter and the company Musk is using to complete the merger are officially incorporated in Delaware.
The lawsuit accuses Musk of ‘a long list’ of violations of the merger agreement that ‘have cast a pall over Twitter and its business.’
Musk is pictured leaving his supercar in a simple black T-shirt as bodyguards took care of him
Asian restaurant Nobu in Malibu is a popular haunt with A-list guests including the Kardashians
Musk was handed $1billion by Ellison as part of his withdrawn $44billion bid to buy Twitter
Musk walks to the entrance of Nobu alongside a plainclothes security guard
One of LA’s hottest dining spots, Nobu Malibu (left and right) is popular with a host of A-listers including the Kardashians
Ellison (pictured in 2019) gave $1billion toward Elon Musk’s withdrawn bid to purchase Twitter
Legal experts have said that from information that is public, Twitter would appear to have the upper hand because of the way Musk negotiated the deal, declining to do traditional pre-merger diligence.
Musk has launched many of his attacks in the merger saga from Twitter itself, most recently tweeting a series of memes mocking the company for attempting to enforce the agreement.
Twitter has retained heavy-hitting law firm Wachtell, Lipton, Rosen and Katz to pursue its lawsuit against Musk.
The hiring of Wachtell gives the company access to lawyers Leo Strine and Bill Savitt, who previously served as Chancellors of the Delaware Chancery Court.
Delaware’s chancery courts deal with non-jury proceedings overseen by judges known as chancellors.
They often tackle business wrangles, with many top US firms – including Twitter – basing their corporate headquarters there, even when their main offices lie elsewhere.
Chancery courts cannot order punitive damages to be paid, and generally hear cases more quickly than criminal trials, with the Twitter case likely to be wrapped up within a few months.
Musk hired Emanuel Urquhart & Sullivan LLP., the firm that defended him in a 2019 defamation case, and is currently representing him in a lawsuit related to Tesla.
Musk’s withdrawal, filed with the Securities and Exchange Commission, alleged Twitter failed to respond to repeated requests for information over the past three months, or obtain his consent before taking actions that would impact its business – such as firing two key executives.
Experts speculated the move may have been a bid to drive the price down. Musk initially offered $54.20 per share in April, but the market price of the shares was down to $36.81 in the wake of the deal’s collapse.
Bret Taylor, Twitter’s chairman, tweeted in the aftermath that the board was ‘committed to closing the transaction’ under the current terms of the deal and they were ‘confident’ they would win.
TIMELINE OF BILLIONAIRE ELON MUSK’S BID TO CONTROL TWITTER
January 31: Musk starts buying shares of Twitter in near-daily installments, amassing a 5% stake in the company by mid-March.
March 26: Musk, who has 80 million Twitter followers and is active on the site, said that he is giving ‘serious thought’ to building an alternative to Twitter, questioning free speech on the platform and whether Twitter is undermining democracy. He also privately reaches out to Twitter board members, including his friend and Twitter co-founder Jack Dorsey.
March 27: After privately informing them of his growing stake in the company, Musk starts conversations with Twitter’s CEO and board members about potentially joining the board. Musk also mentions taking Twitter private or starting a competitor, according to later regulatory filings.
April 4: A regulatory filing reveals that Musk has rapidly become the largest shareholder of Twitter after acquiring a 9% stake, or 73.5 million shares, worth about $3 billion.
April 5: Musk is offered a seat on Twitter’s board on the condition he amasses no more than 14.9% of the company’s stock. CEO Parag Agrawal said in a tweet that ‘it became clear to us that he would bring great value to our Board.’
April 11: Twitter CEO Parag Agrawal announces Musk will not be joining the board after all.
April 14: Twitter reveals in a securities filing that Musk has offered to buy the company outright for about $44 billion.
April 15: Twitter’s board unanimously adopts a ‘poison pill’ defense in response to Musk’s proposed offer, attempting to thwart a hostile takeover.
April 21: Musk lines up $46.5 billion in financing to buy Twitter. Twitter’s board is under pressure to negotiate.
April 25: Musk reaches a deal to buy Twitter for $44 billion and take the company private. The outspoken billionaire has said he wanted to own and privatize Twitter because he thinks it’s not living up to its potential as a platform for free speech.
April 29: Musk sells roughly $8.5 billion worth of shares in Tesla to help fund the purchase of Twitter, according to regulatory filings.
May 5: Musk strengthens his offer to buy Twitter with commitments of more than $7 billion from a diverse group of investors including Silicon Valley heavy hitters like Oracle co-founder Larry Ellison.
May 10: In a hint at how he would change Twitter, Musk says he’d reverse Twitter’s ban of former President Donald Trump following the Jan. 6, 2021 insurrection at the U.S. Capitol, calling the ban a ‘morally bad decision’ and ‘foolish in the extreme.’
May 13: Musk said that his plan to buy Twitter is ‘ temporarily on hold.’ Musk said that he needs to pinpoint the number of spam and fake accounts on the social media platform. Shares of Twitter tumble, while shares of Tesla rebound sharply.
June 6: Musk threatens to end his $44 billion agreement to buy Twitter, accusing the company of refusing to give him information about its spam bot accounts.
July 8: Musk tells Twitter he is terminating agreement because the firm wouldn’t hand over information on spam bots
July 12: Twitter files suit seeking a court judgment forcing Musk to complete the merger at the agreed price