Elon Musk, the CEO of Tesla, is now the largest shareholder of Twitter after he took a $2.89 billion stake at the social media company. This represents a 9.2% stake of the company.
The consequences of this poll will be important. Please vote carefully.
— Elon Musk (@elonmusk) March 25, 2022
What could be his plan with the social media company? Elon Musk constantly complains about free speech on social media platforms and had even hinted at starting his own. He has now taken this stake shortly after he shared a poll on Twitter if the social media platform rigorously adhered to the principle of free speech.
However, it is also worth noting that this is a passive investment according to the SEC filing dated March 14th which means he can’t influence who controls it and can’t acquire control of the company.
Once it was announced that Elon Musk has taken some stake of Twitter, a lot of things changed immediately at the social media company. After the announcement, Twitter’s share price on the New York Securities Exchange (NYSE).
There has also been a lot of talks on the platform about what changes Elon Musk might bring to the social media company.
Do you want an edit button?
— Elon Musk (@elonmusk) April 5, 2022
He has already asked people to vote for another poll where he asked if tweeps need an edit button on the social media app.
Twitter recently got a full-time CEO Parag Agrawal after Jack Dorsey left late last year.
The new CEO has revamped how Twitter introduces new features since he took the reins promising to launch new features much faster.
Twitter has been under pressure to increase its revenues and user growth.