Can't beat it and join? In one fell swoop, musk became the largest shareholder of Twitter

【CNMO】Did you know? Musk, who likes to speak on Twitter, is now Twitter's largest shareholder.

Twitter

It is reported that Musk has been buying Twitter stock almost every day since January 31 this year, and this behavior has continued until April 1. A few days ago, foreign media reported that the documents disclosed by the US Securities and Exchange Commission (SEC) show that Musk holds 73.49 million ordinary shares of the US social media platform Twitter, accounting for 9.2% of Twitter's common stock, nearly $3 billion, which makes Musk the largest shareholder of Twitter. In this regard, Twitter also announced that Musk will join its board of directors.

Musk

It's important to note that Musk has also been barred from acquiring more than 14.5 percent of Twitter, which in part prevents him from having full control over the board. It is reported that before Musk entered the stake, the largest shareholder of Twitter was Pioneer Pilot Investment Company, with a shareholding ratio of 8.39%, and the remaining shareholders' shares were less than 5%.

However, after the news of Musk's appointment as a director by Twitter, driven by Musk's "star effect", Twitter's stock price rose by more than 29% on the day. In addition, Twitter CEO Agrawal also said: "We clearly recognize that Musk will bring great value to our board. ”

Just for free speech?

Since joining Twitter in 2009, Musk has more than 80 million followers. As of now, Musk has posted a total of 17,000 Tweets, more than a dozen tweets in a day when active, and almost every tweet can be reposessed by tens of thousands, and he can be said to be a loyal user of Twitter and one of the most influential users.

Twitter, like musk and everyone else, is a social platform for free speech and can share his thoughts at any time. But recently, Musk has had a little "opinion" on Twitter. He argued that Twitter had failed to comply with the principles of free speech and revealed that it was "intended to create a new social media platform."

Musk launched a vote on Twitter

And there are not a few people who share Musk's views. Not long ago, Musk also launched a poll on Twitter to conduct a poll on whether the platform adheres to the principle of free speech. The poll results showed that about 70 percent of the more than 2 million participants believed that "Twitter did not abide by the principle of free speech." Therefore, musk's idea of creating a new social media platform has also been responded to by many netizens.

However, for Musk's intention to become Twitter's majority shareholder, some people in the industry believe that Musk is worried that Twitter is starting to go farther and farther in the direction of "false information", which is not true, and this move will allow Musk to contact Twitter's top management and improve the status quo. Some people believe that Musk laid out Twitter to increase his influence on social media and save a lot of publicity costs.

Buy it and change it

After the news of Musk becoming Twitter's largest shareholder, he certainly had to send a tweet to "celebrate."

On April 4, local time, Musk issued his first tweet since the acquisition of Twitter shares: "Oh hi lol", expressing his happy mood. In this regard, more than 400,000 friends liked this. In this way, everyone is very welcome to Musk becoming a major shareholder of Twitter.

Musk launched another vote

Of course, one tweet is not enough, and then Musk launched another vote on Twitter, asking netizens if they wanted the tweet "editing" function, a total of 4 million people participated in the vote, of which 73.6% of netizens chose "yes".

In this regard, there are reports that Twitter is testing the editing function under the impetus of Musk. In fact, the editing feature is a feature that many users have hoped Twitter can add over the years. Twitter then confirmed through its official account that the team had been working on a feature to edit tweets "since last year." In addition, Twitter also shared a preview of the new button, click on the three dots next to the tweet to find this edit button. It's important to note that the details of how this feature works are unclear, but simply put, users will eventually be able to edit the content after posting a tweet.

Still getting more expensive?

On April 5, Forbes released the 2022 Global Billionaires List, showing that many wealthy people have shrunk their wealth due to the global stock market oscillation last year. The number of people on the 2022 Forbes Global Billionaires List decreased by 87 places from last year, and the total wealth of the listers was $12.7 trillion, $400 billion less than in 2021. But Musk's wealth has increased by $68 billion over the past year.

2022 Global Billionaires List

According to the data, Musk surpassed Bezos to the top of Forbes' list of the world's richest people with a net worth of $219 billion. In this regard, Forbes magazine said: "Musk is the richest man ever." So, will Musk get richer after becoming Twitter's largest shareholder?

For now, the answer is yes. After the news of Musk's stake in Twitter and joining the company's board of directors, The virtual digital currency Dogecoin, which Musk has praised, has risen sharply in the past two days and hit a two-month high. In addition, Tesla shares also surged 5.61% on Monday, and the market value soared by $62.929 billion.

Previously, Tesla allowed to accept Dogecoin payments in supercharger stations and online stores, and some analysts speculated that Musk may promote the integration of Dogecoin payments into Twitter. Business linkage is bound to promote the rapid development of enterprises.

In addition to the price increase of Musk's stocks in the short term, in the long run, Musk's competitive advantage on social media will also be enhanced. His voice will also be "louder and louder" and heard by more people, which is a good thing for both individuals and for the companies he runs.

However, some strategists believe that joining Twitter's board is a constraint on Musk's words and deeds, making it more difficult for him to use Twitter to raise the price of anything, saying that "if Musk does this, he will face more specific regulatory risks." ”

Write at the end

Anyway, Musk becoming Twitter's majority shareholder and joining the board is a big deal for the entire internet. However, we still hope that Musk's addition can make Twitter develop in the direction that netizens expect.