Elon Musk Twitter

South African business magnate, Elon Musk, recently purchased 9.2% of Twitter shares.

This means that, officially, Elon Musk is now Twitter’s largest shareholder, catapulting the company’s stock market value by more than 26%. The purchase was announced not long after he tweeted that he would launch his own platform because Twitter doesn’t adhere, in his opinion, to the principles of free speech. Musk did not disclose what he paid for the shares, but his stake was worth $2.9 billion at the close of trading on Friday, and $3.6 billion after Monday’s hike.  Elon Musk Any time an investor buys 5% or more of a company’s stock, they must disclose the purchase on file with the Securities and Exchange Commission. Although less than a 10% stake in a company is considered “passive” in the eyes of Wall Street, it could indicate that Musk is trying to take a more active role in running Twitter, now that he has more than quadruple the shares of Twitter’s founder Jack Dorsey, who owns 2.25 %.  Musk, founder of the electric car company Tesla and the aerospace company SpaceX, is a frequent user of Twitter, with an account of 80 million followers. He often posts controversial messages and critics to social media companies. 

What changes do you think are coming for this social network with the new acquisition by Elon Musk?

Share on our channels!

Source: www.cnn.com

Netflix Is Charging for Sharing Passwords

Netflix Is Charging for Sharing Passwords

During Netflix's most recent earnings call, co-CEO Reed Hastings announced that Netflix is having a slowing revenue growth and its first subscriber drop in over a decade. He also mentioned that the company was still figuring out their new model. In addition, he said...

read more
Alexa can now tell you when there is someone at your door

Alexa can now tell you when there is someone at your door

Amazon’s Alexa can tell you when there is someone or something at your door. Amazon’s voice system can announce when there is someone at your video doorbell or security camera. With Amazon's new API, other brands might be able to add the feature to their video...

read more
Elon Musk has offered to buy Twitter

Elon Musk has offered to buy Twitter

Dynamically target high-payoff intellectual capital for customized technologies. Objectively integrate emerging core competencies before process-centric communities. Dramatically evisculate holistic innovation rather than client-centric data.

read more