I think he is out to bankrupt the company to slide out from his obligations.

He is firing people left and right, telling the ones left to be prepared to owe their souls to the the company story or get out. Lots of people are taking the second option. Pretty soon, no one will be left to run the place.

I think he made his bid as a prank and gulped hard when it was accepted. He has tried to slip out from that in all sorts of ways, only following through when compelled, so I think he's trying to bankrupt the company so he can cut his losses.