Wednesday, June 19, 2024
HomeBig TechElon Musk Purchases "Passive" Stake In Twitter, Could Be More To Come

Elon Musk Purchases “Passive” Stake In Twitter, Could Be More To Come

Elon Musk has purchased a percentage of Twitter after a series of posts raging against the social media giant over concerns of censorship. The CEO of Tesla owns 9.2% of Twitter’s shares which equates to about $2.89 billion. This stake is considered “passive” but it is probably indicative of things to come. Analyst experts suggest this move is the first of other moves to force a buyout or something else. The purpose is probably to have some controlling power of Twitter to change it from within, rather than simply complaining about it on the outside looking in like everyone else.

This news comes on the heels of Elon Musk suggesting that he would start his own social media network, similar to Donald Trump with Truth Social. The reality is that the offshoot versions of Twitter will never do as well as or better than Twitter itself. The only way that new social media platforms can succeed beyond existing ones is if they innovate in the space. TikTok is wildly popular because of not only being backed by the CCP over in China, but also because it introduced something new to the market. Elon Musk appears to understand this fact and his large purchase appears to back it up. The best way to make change is by going straight for the top, rather than avoiding the big dogs and working around them.

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Elon Musk purchases stake in Twitter after slamming its approach to ‘free speech’ | Fox Business

Twitter shares soar more than 29% after Elon Musk takes 9% stake in social media company

Elon Musk buys 9.2% of Twitter, making him the largest shareholder | CNN Business

Musk takes a $3B bite out of Twitter; Tesla mogul has 9.2% share of the social network | TechCrunch

Tesla boss Elon Musk buys stake in Twitter before openly criticising the social media website – ABC News

Tesla CEO Elon Musk buys 9.2 stake in Twitter; shares skyrocket – The Washington Post

Elon Musk buys 9.2 percent of Twitter amid complaints about free speech – The Verge

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