Tesla and SpaceX CEO Elon Musk Buys Major Stake in Social Media Giant Twitterand becomes the largest outside shareholder of the company. Development takes place a week after Musk says it was “Think seriously” Launch a new social media network to compete with Twitter and Facebook.
Twitter is one of the world’s largest social media networks, with more than 200 million daily active users and revenue of $5.1 billion in December 2021. The company was co-founded by Jack Dorsey, who was also CEO from 2015 to 2021. . Meanwhile, Dorsey will take over the role of CEO of the company in 2021, with Parag Agarwal assuming.
In a filing with the US Mobile Values Commission (SEC) on the second day, Musk revealed that it has purchased 73,486,938 Twitter shares, representing a 9.2% share of the company.de agrees of NBC Financial Channel, the deal was priced at US$2.89 based on the sex exchange closing price, while shares of the company Tenham fell on the news at the start of second-market deals. At the same time, the reporter suggests that, despite Musk’s actions being classified as passive inheritance, the acquisition could be turned into a takeover, although this isn’t clear at the moment. may eventually allow companies to participate actively, giving Musk exercise “Take a more active real estate role on Twitter.”
While Musk now supposedly owns nearly 10% of Twitter, the company’s ex-CEO and best-known founder, Jack Dorsey, is said to have barely 2%. BloombergBy the way, Musk is the sole manager of the Elon Musk revival fund owned by Tesla. Oddly enough, Musk bought Twitter but has been selling Tesla stock since last year and is believed to have sold about $16.4 billion worth of shares of the company in recent months.
Musk is known for being dissatisfied with Twitter’s restrictive policies and announced last week that he was considering creating a new social media platform. His tweet was addressed to one of his Twitter followers, who asked if he would consider building a new social media platform using open code algorithms. Prior to his explosive disclosure, Musk criticized Twitter and its policies, claiming that the company was not defending free speech in its most sincere form. Twitter There is a strict audio-speech policy and posters that are considered to be audio are often removed.
source: NBC Financial Channel, Bloomberg