Rumors are flying that Elon Musk wants to buy Twitter and be the sole owner of this company, an exciting proposition.
Even if that day never comes, he is already heavily invested in the social media platform with a recent purchase, but he’s also been critical of Twitter over the years. His tweets have sometimes gotten him into hot water with the social media platform and other entities. While we could speculate what full ownership of this platform would mean for the Tesla CEO, we do know that he isn’t happy with some of the standards this organization adheres to.
An Impressive Level of Ownership
Recently, Musk purchased a significant stake in Twitter. This purchase makes him the largest outside shareholder in this social media network. This came only a couple of weeks after criticizing the company for its free speech tenets. If you’ve paid attention to Musk and his tweets, you probably know he’s been in hot water with the platform and with other agencies over what he posts. Whether that means he could use a censorship team to ensure he doesn’t post anything too polarizing or not, he does now own 9.2% of the total shares of Twitter.
How Many Shares does Musk Own?
Elon now owns 73,486,938 shares of Twitter. This gives him a passive stake in the company and makes him an owner with a lot to say. This particular purchase caused the share price to skyrocket and close at a 27% growth rate, giving other stockholders instant profits that were undoubtedly worth celebrating. Musk’s stake in this company now represents $2.89 billion based on the closing price on the Friday following the purchase. Considering his criticism, wouldn’t it have made sense for Musk to buy shares of a different platform.
How Did Elon Musk Criticize this Social Platform
Fewer than two weeks before making this significant investment into Twitter, Musk created a polarizing poll about the social platform. In his tweet, he asked, “Given that Twitter serves as the de factor public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?” Even though many people use Twitter, follow Musk, and have followed many other polarizing figures on this platform, does it serve the function that Musk says it does. Just because he thinks so doesn’t mean that is the purpose of any social media platform.
Maybe the Tesla CEO Should Have Done What he Considered a Month Ago.
Musk stated he was considering building a new social media platform only a month ago. Maybe he should have done this instead of investing in Twitter. Of course, with his new ownership stake, he could take a more aggressive approach that might lead to a buyout of the company, which Elon has said he’s considering since purchasing this large share of Twitter. Will Elon Musk become the owner of this social media platform in the future, or will he help effect the changes he wants to see in this company?
What Type of Trouble has Musk Gotten Into with his Tweets
If you’re among the 80 million followers of Elon Musk on this platform, you know the posts and tweets often. Some of these have gotten him into trouble. A tweet from 2018 caused him to lose his chairman position at Tesla after stating he had the funding to take Tesla private. This caused severe uproar for the company, the stock prices, and the SEC. The settlement with the SEC removed him from the chairman role, leaving him as the CEO.
Should Elon Musk Change his Social Media Approach
Social media has grown to the point of absurdity for some. Many people post everything they do all day long, but this has led to some monetizing this process. Elon Musk is among many people that use social media often, and it’s worked out well for the most part. Tesla has grown exponentially over the past few years, and it continues to get more popular. Most people posting on Twitter or other social platforms aren’t as influential as Musk, which means he should probably be careful of what he posts, but still, use this tool to grow excitement in his companies and products.
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