Elon Musk, who is the CEO of SpaceX and Tesla is now Twitter’s biggest shareholder after dropping $3 billion USD on just under 10% of Twitter’s stock. This came to light via a SEC filing that was made today. Companies need to do a SEC filing to disclose when an investor has acquired a stake of over 5% of the company’s outstanding shares. But what’s interesting about this share purchase is that Musk hasn’t exactly been a fan of Twitter despite being a rather frequent user of the platform. Here’s an example from a few days ago:
He even floated the idea that he might be involved in launching a new social platform. Sort of like that Trump guy who used to be President of the United States. But I am guessing that he might be planning to change things from the inside. Which could go really well, or really badly. I guess we’ll have to see what his plans are. In any case, Twitter stock has skyrocketed on the news. So I guess that’s good news for Twitter.