The well-known entrepreneur at the head of companies such as Tesla Motors and Space X, also engaged in artificial intelligence, has become the single shareholder with the largest stake (even more than former CEO and co-founder Jack Dorsey) within the social network of the blue canary.
Elon Musk, the richest man in the world, is known as CEO of Tesla and SpaceX and, in the past, founded The Boring Company, co-founded Neuralink (brain technologies) and OpenAI (artificial intelligence): as “external investments” ”, Until recently, the South African tycoon had only gone into small stakes (eg in DeepMind), but something seems to have changed in recent times, as just happened with regard to Twitter.
Musk has been frequenting Twitter for a long time: the young entrepreneur has often been criticized for his controversial tweets, sometimes too frank, somehow not always profitable for Tesla Motors, sometimes even in favor of obscure cryptocurrencies (eg. Baby Doge and Doge Coin) with relative increases in prices.
Last month, Musk also launched a poll on his Twitter account, in which he asked if Twitter was moving away from free speech: about 2 million people participated, 70% of which oriented to favor an affirmative answer. As a result of this, Musk’s next question was whether a new platform was needed (perhaps following Trump’s path with Truth Social).
The answer to what Elon Musk’s intentions were, came recently, thanks to a document presented to the SEC (the American supervisory body of the Stock Exchange, similar to our Consob), according to which the billionaire bought 73,486,938 shares of Twitter (which consequently obtained a 26% rise in pre-market trading), for an investment of $ 2.9 billion (perhaps using part of the proceeds of 10% of Tesla shares sold last year to pay for the taxes), with a stake of 9.2% which makes it the largest single shareholder of the company (where former CEO and founder Jack Dorsey still retains a 2.25% stake).
For now, there is talk of passive participation, as Musk “should not play a role in the strategy or general policy of the company”: however, according to Wedbush analysts Daniel Ives and John Katsingris, such a move could be the initiation of closer discussions with the board and the platform’s general management, for which Musk could “play a more active role in the company’s operations, strategy and policy in the future”.