Elon Musk Becomes Twitter’s Largest Shareholder…

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  • HoughMade

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    And why would I care?
    I can't answer that. Maybe you don't care and there's no reason you should.

    I am interested because this gives Elon a basis to influence Twitter, but not really control it....yet. He has been an outspoken critic of Twitter (and other social media) censoring viewpoints it disagrees with. In fact, he has recently hinted as creating his own platform to address these issues. Maybe, his coy hints were at creating reform rather than creating a competitor. Perhaps his influence as the largest shareholder is a piece of the puzzle.

    It will be interesting to see what happens.
     

    actaeon277

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    actaeon277

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    “No one has been more adept at using Twitter to control public narrative” than Musk,

    That's a laugh.
    Twitter seems more adept at controlling public narrative.
     
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    I'd guess he may have put the idea of starting a competitor to drop their stock price a bit then grab it up a little cheaper.

    What he's doing can't hurt. Twitter is terrible right now. First thing I'd like is to see Trump's account reinstated. That'll be a highly visible indicator of change.
     

    jake blue

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    My understanding is his shares are common stock so while 9% might make him the largest single shareholder it's still no majority. Common shareholders have little influence in the actual operation and policies of an organization. He'd have to secure a seat on a board of directors to have any direct influence on Twitter's policies.

    There's also a complication that Musk likes to play fast and loose with SEC rules. He waited too long to file the reporting of the share purchase so now he can look forward to the purchase being scrutinized. At best he'll probably pay a (comparatively) small fine for not filing promptly but given his track record they may decide to levy a more severe penalty including making him give up the shares like they did with his own company, Tesla.
     
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