Musk had long ago hypothesized the idea of launching his own social platform, able to surpass the popularity of the more established names already in existence
Despite the statements of Tesla’s owner released some time ago on Twitter, Elon Musk has decided to join the company by buying 9.2% of the shares, thus positioning himself as the main shareholder of the Tweet social media. The tycoon of South African origins but with an American passport – and naturalized in the USA – also has a Twitter account, followed by 80 million followers. Given the sequel, evidently the former Tesla CEO has seen fit to enter the share ownership of Twitter and complete the action.
Love and hate towards the social platform apparently, given that Musk himself had harshly criticized the level of democracy that the social network guaranteed to its audience. As a “virtual square”, according to the founder of Tesla, a greater level of openness towards users’ opinions was desirable. After the acquisition, Twitter saw a 27% rise in share value, according to experts at brokerschart.it. The Wall Street stock exchange therefore seems to have greatly appreciated the new Twitter entry, which closed the value of its shares at $ 49.97 while in the previous months it had seen a collapse that reached a peak of 38%.
What strategy behind Elon Musk’s move?
Elon Musk had long ago hypothesized the idea of launching his own social platform, able to surpass the popularity of the more established names already in existence. At the basis of this statement, the founder of Tesla stressed the low level of democracy present on Twitter, which Musk joined in 2009. Since then, the entrepreneur’s Tweets have followed one another at a constant pace and have been used to spread ads. also important, and even discussed.
Elon Musk’s investment in Twitter is actually very little compared to his overall fortune. However, there are those who speak of a possible buyout behind the recent move, an idea that in reality would not surprise given that for the founder of PayPal (later sold to eBay later) it would not be the first time. In fact, the same has already happened with SpaceX and Boring Company, as well as other start-ups in which Musk has decisively entered, both as a shareholder and as a manager.
If that were the case, Twitter’s shares would be destined to increase their value even more as the proponent of meme coins seems to have the ability to turn everything they come into contact with into gold. In any case, Twitter has not released any statements on the subject, since it must not be very easy to predict Musk’s moves either.
I Twitter “hot” di Elon Musk
Despite the democracy deficit Musk has accused Twitter of, his Twitter has created quite a few problems in the past. One of the most recent episodes was that relating to the declaration, which took place via the social platform, according to which the entrepreneur would have withdrawn from the market Tesla closing at 420 $ per share, a price increased by about 20% compared to the quotation at the moment. of the declaration. This statement had the effect of an earthquake, to the point of putting into action the SEC (Security and Exchange Commission of the USA), which was immediately set in motion.
The result was that of a dramatic increase in the value of Tesla’s shares, given that the announcement had taken place completely without the knowledge of both investors and the competent authorities. The consequence was hard for Musk who, following the measures taken by the SEC, had to leave the presidency of Tesla for 3 years, in addition to having to pay a fine of 40 million dollars. A few days later, in fact, the entrepreneur reversed, declaring that he no longer wanted to get Tesla out of the market. The US authorities then prosecuted for “fraud and false and misleading statements against investors”.
Probably Elon Musk will not end up on the pavement for what happened, but the episode gives us a more concrete idea of how compromising a Tweet can be, given the public resonance that certain announcements can have in the media, and beyond. Let’s see if in the future the brilliant self-made man will keep his instinct to tweet more in check.