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> I am not sure about the legality

non-profits can own for-profit businesses. They generally invest their endowments in...the stock market, and owning a whole company is just that at a larger scale.

A well known example is Usenix taking its networking sideline and turned it into the company UUnet which let Rick Adams become a billionaire (for a while). I actually considered this scandalous and still do, but it was all legally above board. It ended up ensnarled in the Worldcom fraud, which felt like poetic justice to me.

Admitedly, this is somewhat an hilarious tweet.

Not-for-profits can also vote to sell themselves if their bylaws don't prohibit it.

He fundamentally misunderstands what it means to be "non-profit" (or is being intentionally disingenous; it's hard to tell with him). It doesn't mean you can't make a profit.