SVB Collapse: Elon Musk reveals interest in buying the failed bank

Image: Complexob7

Following the collapse of Silicon Valley Bank, an unfortunate incident that happened on Friday, Twitter boss and billionaire Elon Musk, has disclosed his interest to buy the bank.

Mr. Musk made the disclosure on Saturday via his Twitter handle.

SVB, a four-year-old United States lender and a cornerstone of the tech startup scene, collapsed on Friday after a stunning 48 hours, making it the second biggest bank failure since the 2008 financial crisis.

His interest followed a tweet suggestion by the Co-founder and Chief Executive Officer of Min-Liang Tan, an American global gaming hardware company, Razer. Tan suggested Musk turn the failed bank into a digital bank.

Tan tweeted, “I think Twitter should buy SVB and become a digital bank.”

I think Twitter should buy SVB and become a digital bank.

— Min-Liang Tan (@minliangtan) March 11, 2023

 

However, Musk in his response, tweeted, “I’m open to the idea.”

I’m open to the idea

— Elon Musk (@elonmusk) March 11, 2023

Source: punchng.com

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#SVB
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