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On April 4, Twitter announced that Tesla CEO Musk had spent $3 billion to buy a 9.2% stake in Twitter, becoming its largest shareholder.
Today, Musk's stake in Twitter is higher than vanguard group's 8.8 percent at the end of last year, and former CEO Dorsey's 2.3 percent. The $3 billion in purchases of these stocks is only a fraction of Musk's $300 billion worth. As a result, Ron Barron, one of Tesla's biggest shareholders, said, "I don't think it makes sense. For someone worth $300 billion, $3 billion is a small investment. ”
Barron's view is actually based on the fact that Musk became the world's richest man, mainly thanks to his Tesla and Space X shares, Tesla's market value has reached $1 trillion, and is moving towards $3 trillion or $4 trillion, Space X market value has already exceeded 100 billion. But this move is certainly not just a matter of taking money to make a water raft, on April 5, after Musk joined Twitter, Twitter stock price once soared about 20% and then fell back, Musk now controls nearly 73.5 million shares of the company, Musk owns and often supports the cryptocurrency Dogecoin immediately soared 10%.
Looking back at the timeline of Musk's purchase of Twitter shares, shortly before buying Twitter shares, Musk had publicly criticized Twitter's policies, arguing that the company did not respect free speech. That's when musk was suggested to "buy Twitter or build another tweet to save the country from these neurotic Silicon Valley liberals." ”
After joining Twitter, Musk gave up joining the board and deleted some of his hottest Tweet-related comments, including suggestions on how to reinvent Twitter and its products, such as whether to turn Twitter's San Francisco headquarters into a homeless shelter, "Twitter Blue" subscribers can pay for subscription fees with Dogecoin and waive ads, Twitter deletes the "w" in its spelling to "Titter", all of which Musk removed. Along with the deletion were some of the once indecent tweets.
Musk was sued for delaying the disclosure of Twitter holdings
Musk then delayed informing the SEC of the fact that he had purchased more than 5 percent of Twitter shares, in fact, he reached that percentage on March 14, which Musk didn't disclose until April 4. The disclosure of the news helped Twitter's stock price rise sharply by 27% on the 4th to about $50 per share, making him a huge fortune of about $156 million in two weeks.
Musk Twitter screenshot has over 80 million followers
Here, we boldly speculate about the main purpose of Musk's move, for Twitter, the addition of this influencer will stimulate other investors to join the stock, superimposed "buff" after the social media track to accelerate. Also because Musk did not join Twitter's board, his shareholding will not exceed 14.9%, and his personal ideas will basically not involve strategic reform of the company, and he will not be responsible for speech because of his status as a director. On the other hand, that is, the "if you can't beat them, then buy them" mentality, Musk wants to build a center of public opinion, although he has more than 80 million fans on Twitter, but he will be banned at some point, which can refer to former US President Trump, who also has more than 80 million fans on Twitter, and if Musk buys more shares in the future, he can even have Twitter. On the evening of April 14, Musk submitted a document to the SEC of the U.S. Securities and Exchange Commission, announcing that he had issued a buyout invitation to Twitter, planning to buy all of Twitter's shares at an offer of $54.2 per share, making Twitter a private company.
In fact, it is not new for the mega-rich to have their own social platforms or invest in the media industry, Amazon founder Jeff Bezos bought the Washington Post, David Thomson's family bought the Uk's largest news agency Reuters in 2008, and each of the mega-rich wanted to make sure they had a reliable microphone in their hands.
Whether the richest man's investment intentions are for profit, for the sake of making a voice easier, with a greater investment intention, or just a whim, as nonsensical as his tweets, only he himself knows better, but has to admit that:
"In this world, the rich will only get richer." Where do ordinary people have such an opportunity? Even if there is the courage to take $3 billion to float in the water.
(Source: Zhengguan News)