Does Elon Musk Own Twitter? As He Became Twitter’s Largest Shareholder
2 min read
Elon Musk recently purchased a 9.2% interest in Twitter, but does this mean he now owns the company? Tesla’s owner has always made sound investing decisions, so it’s no surprise that he opted to get involved with Twitter. People, on the other hand, were taken aback when they learned. Despite this, there is no doubt that Elon makes the best financial decisions for himself, and while he has not provided an explanation for his most recent investment, we believe it will only increase his net worth.
IS ELON MUSK NOW THE OWNER OF TWITTER?
Twitter is not owned by Elon Musk. What does it mean to have a bigger stake, exactly? That is to say, Elon will have a voice in how Twitter operates. According to CNN, Elon Musk is the company’s largest stakeholder, with a stake four times that of Twitter founder Jack Dorsey’s 2.25 percent, and will play a key part in determining how the network operates and whether any changes are required. At the same time, Elon’s recent purchase may encourage others to purchase a larger interest in Twitter, so raising the company’s worth.
WOULD THE TESLA OWNER BUILD HIS OWN PLATFORM?
Elon Musk had stated before making this purchase that he planned to build his own platform where individuals would be free to debate whatever they wanted. “Given that Twitter is the de facto public town square, failure to adhere to free speech norms fundamentally weakens democracy,” he had tweeted. “How should we proceed?” People were ecstatic to hear this, and they were eager to see what he had to give. However, given Elon’s investment in Twitter, it’s quite likely that he’ll be developing his own platform.
Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy.
— Elon Musk (@elonmusk) March 26, 2022
What should be done? https://t.co/aPS9ycji37
IN 2021, HOW MUCH DID ELON MUSK EARN?
Elon Musk, who invested $2.9 billion in Twitter, had a wonderful year in 2021. While the precise figure is unknown, Forbes reported in October 2021 that Elon had gained approximately $25.6 billion in a single day when Tesla’s stock rose due to Hertz’s statement that it will buy 100,000 electric vehicles. Elon’s net worth increased to $255.2 billion in 2021, making him “wealthier than any billionaire Forbes has ever monitored,” according to Forbes.
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Shraddha
I am a second-year journalism student from the school of Mass Communication at KIIT Deemed University, Bhubaneswar. Since I'm pursuing journalism, writing and getting published is my dream job. Due to the fact that my subject's studies are based entirely on my research work and sources, I am able to write informative articles. New writers are worried that the story has been told already, well, it has been, but not by you.
