The man who owns SpaceX and Tesla, Elon Musk just acquired a 9.2% stake in Twitter, which is the most widely used social media site. After buying twitter stocks, Elon Musk became the company’s single largest shareholder as a result of this, the stock price of Twitter jumped by roughly by 27% in a day. Moreover, Elon Musk tweeted a poll, asking people if they wanted an edit button.
Parag Agrawal, Twitter’s CEO now has said that Musk will be on Twitter’s Board of Directors. This is a new development as Twitter to Appoint Elon Musk as their Board of Directors. After talking to Elon in the last few weeks, it became clear to us that he would be a great asset to our Board.
Twitter to Appoint Elon Musk as their Board of Directors
Twitter’s Stock Price
Elon Musk has acquired 73.5 million shares in Twitter, making him the single largest shareholder. Twitter’s stock price rose immediately after the news broke, and ended the day up 27%.
Musk’s poll Get Massive Engagement with a Tweet on the Edit Button!
As of today, the poll has attracted nearly 3 million votes, with 73.5 percent voting in favor of the edit option. While there has been no confirmation of the edit option, this poll has sparked a lot of discussion on both sides of the platform.
Elon Musk has always been an active Twitter user, whether it’s for sharing memes or keeping up with Tesla and SpaceX news. With Musk joining Twitter’s board of directors, one can only hope he will propose and strive to improve the platform’s experience, whether by resolving known faults or adding new features.
Like yesterday, soon after Musk’s appointment to the board, the share price of Twitter has soared 8 percent.
Reasons Why Musk buy so much Twitter Stock
Buying Twitter could be for other reasons like to make sure the platform doesn’t limit his speech, says Erik Gordon, a law and business professor at the University of Michigan.