- Expectedly, shares of Twitter (+27.13%) surged on the discovery through a regulatory filing that Musk is now Twitter’s biggest individual shareholder.
- After all, if Musk can master spaceflight, surely he can succeed in social media, after all it’s not rocket science.
First, he fixed the automotive industry that was reluctant to get rid of oil-burning, carbon-contributing vehicles.
Then he went to make spaceflight, cheaper, safer and better.
Now, he has his eyes set on fixing social media, or at least that’s what Elon Musk’s acquisition of over 9% of social media giant Twitter appears to be motivated by.
A week ago, Musk hinted at shaking up the social media industry and if anyone is well-equipped to do so, Musk certainly is.
Himself a Twitter star in his own right with 80.1 million followers, Musk has had an excellent track record and ability to turnaround industries and companies where he’s had no prior experience.
Expectedly, shares of Twitter surged on the discovery through a regulatory filing that Musk is now Twitter’s biggest individual shareholder.
Musk has publicly mulled starting his own social media company for some time, one which is likely to adhere more stringently to the principles of free speech, and it would be unsurprising if he makes a play to gain a controlling stake in Twitter.
Twitter, one of the earliest social media stars, is unlike Facebook (+4.02%) and Snap (+5.20%), where the company’s founders have special voting control over its future and could become the target of a takeover bid by Musk.
And for shareholders of investors into Twitter, Musk’s next move could be profitable no matter what.
Should Musk be intent on acquiring a controlling stake in Twitter, shares of the social media company are almost certain to go up, and even if he’s not, if he should become an activist investor in Twitter (as is likely), he might bring some of the magic that he’s brought to Tesla’s share price, over to Twitter.
Against all odds, Tesla (+5.61%) is turning a profit, delivering electric vehicles and has become the standard bearer for global vehicle electrification.
After all, if Musk can master spaceflight, surely he can succeed in social media, after all it’s not rocket science.