Home Technology The first message from Elon Musk after becoming a major shareholder of Twitter

The first message from Elon Musk after becoming a major shareholder of Twitter

0
The first message from Elon Musk after becoming a major shareholder of Twitter

With her over 80 million followers, Elon Musk, is already a celebrity on Twitter. That’s why many were surprised at the news this Monday had indirectly bought a tycoon 9.2% share of the social networkas reported by the company to the United States Securities and Exchange Commission (SEC).

In this way, Musk becomes to Twitter’s highest shareholder, leading the Vanguard group (8.79%) or Morgan Stanley (8.76%). Twitter actions rose more than 25% in the premarket after hearing the news.

Although it is not entirely clear will be Musk’s role in the company due to acquisition it is not associated with any particular function. Initially it may act as another external investor.

To celebrate this investment, he published his first tweet on the platform that is now part of his assets. Far from his usual eloquence, he limited himself to saying, “Oh hello”adding a “LOL” to symbolize their laughter.

The tycoon won 73.5 million shares of the company, whose value, according to the valuation of its shares at closing last Friday, worth 2,890 million dollars.

What is remarkable is the great activity the Tesla owner has on Twitter. In his account he includes announcements of the management of his companies, reflections on the future of humanity, criticism and praise of various cryptocurrencies and controversies around the world.

This takeover came weeks after Musk himself announced on his personal account that he wanted to “create his own Twitter” because of the lack of freedom of expression.

To find out if Twitter itself really adhered to the basic principles of freedom of expression, he conducted a survey on said platform and asked if the algorithm should be open source so that anyone could audit it.

He also complained to the public about some of the new features of the social network in relation to cryptocurrencies and blockchain.

Musk in the crosshairs of the SEC

Another notable fact is that Musk is under full SEC investigation for his dissemination activities via Twitter, which may constitute alleged crimes of manipulation of security and conflicts of interest.

In 2018 he published a tweet in which, without evidence, he claimed there was enough funds to remove Tesla from the stock market. That message sent the value of the company’s shares rising, but the SEC said the comment on Twitter was “wrong and misleading.”

Musk admitted that any tweet with the ability to transfer the value of Tesla shares would be reviewed by lawyers as part of an agreement for which he would have to pay. $ 20 million to settle a fraud case filed by the SEC.

Elon Musk showcased his new line of smart vehicles.  Photo EFE

Elon Musk showcased his new line of smart vehicles. Photo EFE

But in early March, Musk asked a New York judge to reverse the settlement of his tweets that reached out to stock market regulators, saying the SEC was seeking to “harass Tesla” and reduce he “to silence.”

The social network has undergone a period of major changes in its structure. Four months later, Jack Dorsey, its founder, stepped down as CEO to hand over the responsibility to Parag Agrawal, its former CTO.

One of the projects held by the new manager is, certainly, to decentralize Twitter, with the clear intention to fight censorship and the impact of its algorithm.

SL

Source: Clarin

LEAVE A REPLY

Please enter your comment!
Please enter your name here