The CEO of Tesla or SpaceX has just invested more than 9% in the Twitter platform.
Elon Musk, CEO of Tesla and SpaceX, has just acquired a large share of the Twitter platform. According to a report named 13G from the Securities and Exchange Commission, Elon Musk bought 73,486,938 shares of Twitterwhich is equivalent to a participation of 9.2% in society.
NB. This article was published on April 04, 2022 and updated on April 5.
Is it a long term investment?
The investment is listed as a passive investment. This term means that Elon Musk plans to keep the purchased shares for the long term. In other words, he didn’t buy those shares in order to sell them quickly to make money.
Will Elon Musk have his say at Twitter?
Elon Musk should indeed take part in the strategic decisions of Twitter. Indeed, according to Reuters, the billionaire joined the board of directors of the firm following his investment. Also, given Musk’s stature in the tech world and the fact that he now owns more than 9% of the shares of TWTRhis statements about the company itself and social media in general will undoubtedly carry significant weight.
How was the news received?
TWTR shares soared in trading ahead of the opening of trading on Wall Street. As of this writing, Twitter shares are up more than 26% at $49.81.
Is it a surprise?
This may sound surprising, but it is not. Elon Musk had responded to a tweet asking if he would ever consider creating his own social media platform. Elon Musk said then: “I am seriously considering this.. “. Elon Musk clearly has an interest in the social media sector, he has more than 80 million followers on Twitter, it is also through this that he communicates about the news of his companies.
Am giving serious thought to this
— Elon Musk (@elonmusk) March 27, 2022
Lately, Elon Musk publicly questioned Twitter’s approach to freedom of expression via a poll conducted on his Twitter account on March 25. ” Freedom of expression is essential to the functioning of a democracy. Do you believe that Twitter strictly adheres to this principle? the Tesla CEO had asked, before noting in a follow-up tweet that “the consequences of this survey will be important“.
The consequences of this poll will be important. Please vote carefully.
— Elon Musk (@elonmusk) March 25, 2022
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