ELON MUSK NOW THE BIGGEST TWITTER SHAREHOLDER
The tech mogul Elon Musk is not only a big fan of the social platform, but he is now also its biggest shareholder.
Only last month did he run a poll for his 80 million followers on Twitter, asking them if they think the platform adheres to the principles of free speech. More than 70% said no which prompted the 50-year-old to ask them if they think there is a need for a new platform as he is seriously considering starting his own platform.
Then a week later, an announcement is made that Musk has bought a 9.2% stake in Twitter. This meant a great deal for the company’s shares as they rose by about 26% in pre-market trading.
News24 reports that Musk has been one of the biggest personalities on Twitter, and has regularly run into trouble on the platform. The Tesla Inc. chief executive officer is currently seeking to exit a 2018 deal with the US Securities and Exchange Commission which limits his Twitter posts about the electric car maker.
Based on Twitter’s closing price on Friday, Musk’s shares are worth $2.89 billion. It’s worth more than four times the number of shares held by Twitter founder Jack Dorsey.
Twitter users have been asking for an edit button for years and Musk’s latest poll has now asked the same question. With Twitter choosing 1 April as the day that they announced they’re working on an edit button, many users didn’t take them seriously as they thought it was an April Fool’s joke.
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