April 5, 2022
Oh hi lolEntrepreneur and the world’s richest person, Elon Musk, in a tweet as the world learned he bought a 9% stake in Twitter.
- Why It Matters: Musk, a critic of Twitter for limiting free speech, will “one way or another … change the course of Twitter,“ says Dan Ives, tech analyst at Wedbush Securities.
- The stake in the social media company is significant — worth approx. $3 billion — and makes Musk the single largest shareholder.
- What will he do with this leverage? TBD. He is already asking the audience about an “edit” button for tweets. He recently posted on the social media platform: “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?” and “Is a new platform needed?“
by Jenna Lee,