Musk tops Twitter shareholders with $2.9B investment - Mobile World Live

Musk tops Twitter shareholders with $2.9B investment

04 APR 2022

Tesla Motors and SpaceX CEO Elon Musk (pictured) became Twitter’s largest shareholder with an investment valued at $2.9 billion, a move The New York Times (NYT) reported could pave the way for an aggressive involvement in the platform’s strategy.

A US Securities and Exchance Commission (SEC) filing released today (4 April) showed Musk acquired a 9.2 per cent stake in Twitter on 14 March. The amount paid is based on the company’s stock price on 1 April.

Musk is an avid user of Twitter, but previously criticised the company’s moderation policies.

NYT cited Daniel Ives, an MD and senior equity research analyst for technology at investment company Wedbush Securities, as stating the billionaire could be seeking to steer Twitter’s direction.

In late March, Musk questioned Twitter’s role in modern democracy.

Musk has more than 80 million followers on Twitter and previously floated the prospect of starting his own social media platform, most recently in late March when he tweeted he was giving it “serious” consideration.

Details of Musk’s invesment resulted in a 25 per cent bump in Twitter’s stock price ahead of the opening of trading on the New York Stock Exchange.



Mike Robuck

Mike Robuck is the U.S. Editor at Mobile World Live. He joined the Mobile World Live staff in February of 2022. Prior to joining GSMA, he was editor of FierceTelecom and of Light Reading’s Telco Transformation microsite. He has a...

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