The richest man in the world has just taken a big step, as Elon Musk has just bought a large stake in the popular social media platform Twitter. According to reports, Elon Musk has spent nearly $ 3 billion of his huge fortune buying about 10% of the company – and industry experts are already scrambling to find out what this big move in the technology industry means.
In an unexpected shock both in the technology world and in the social media space, Elon Musk has used his vast resources to buy a stake in one of the most popular social media platforms. @ Bloomberg reports that Elon Musk is now Twitter’s largest shareholder, just a week after he officially bought a 9.2% stake in the company, after hinting that he is going to do something big to change the social media industry. As of April 1, Musk’s new shares on Twitter are valued at about $ 2.89 billion.St..
Just last month, Elon Musk asked his 80 million plus followers on Twitter if he believed the company adhered to freedom of speech principles. When more than 70% said they did not believe, he asked them if they needed a new social media platform, saying they were seriously considering starting their own.
It is unknown at this time what he will do after leaving the post. Earlier, he publicly criticized Twitter, saying it had “wrong priorities.”
Industry experts point out that Twitter is under pressure to create new products – and although the company has grown steadily throughout the year, its stock growth has lagged behind industry peers.
Want updates directly in your text inbox? Hit us on 917-722-8057 or click here to join!
