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Briefing

Elon Musk buys a stake in Twitter

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)

Briefing

Elon Musk buys a stake in Twitter

By Jon Victor
Apr 4, 2022
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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.

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