After his mysterious Twitter polls, turns out Elon Musk has bought a sizeable stake in the social platform.
👉 Background: Twitter is the 280-character social media platform with over 200m daily active users. It's used for reading the latest, breaking news or having beef with celebrities.
👉 What happened: On March 25, Elon Musk asked his 80m followers whether they thought Twitter encouraged free speech. Lo and behold, 70% said a big, fat NO.
👉 What else: But Elon had some ulterior motives. He had bought over 70 million shares in Twitter on March 14 (11 days before his 'poll'). Since the announcement, Twitter's shares have skyrocketed by 27%.
💡When an investor takes a significant stake in a company, it’s usually for financial reasons.. But sometimes..it’s not? Elon’s investment in Twitter looks to be more about freedom of speech and less about making money.
💡 Elon uses Twitter frequently to express his opinions on various topics - from regulation, to crypto, to capital markets, to memes, and everything in between.
💡 The purchase gives Elon direct access to Twitter's top management and makes it harder for Twitter HQ to ban him like Donny T. No matter how wacky his tweets may be.
Check out a list of Elon's most wacky tweets:
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