Tesla’s tweeter-in-chief disclosed a 9.2 per cent stake in the company, worth more than US$3.6 billion as of Monday’s closing price, making him the social media giant’s largest shareholder. (The Logic, Bloomberg)
Tesla’s tweeter-in-chief disclosed a 9.2 per cent stake in the company, worth more than US$3.6 billion as of Monday’s closing price, making him the social media giant’s largest shareholder. (The Logic, Bloomberg)
Tesla’s tweeter-in-chief disclosed a 9.2 per cent stake in the company, worth more than US$3.6 billion as of Monday’s closing price, making him the social media giant’s largest shareholder. (The Logic, Bloomberg)
Talking point: The disclosure of the March 14 investment sent Twitter’s stock nearly 30 per cent higher Monday afternoon. It is also fuelling speculation that Musk, an outspoken critic of the platform, could use the stake to push for changes at Twitter; he has previously questioned the company’s commitment to free speech and compared its leadership to Soviet politicians. Still, Musk’s regulatory filing doesn’t indicate any plans to take an activist stance. After its stock recently lagged behind other tech giants, Twitter faced pressure from the U.S. activist hedge fund Elliott Management to improve its business, with CEO Parag Agrawal pledging in response to improve product execution, among other measures.
Loading...
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseIf you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseYou have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.