By Madhurima Ghosh –
Chief Executive Officer of Tesla Inc. Elon Musk purchased 73.5 million shares worth $3billion of Twitter. He took 9.3 % stake of the social media platform to become the largest individual shareholder of the same. Reason of such a monumental investment is still unknown but soon after the disclosure of this news, the biggest outcome manifested in the shares of the micro-blogging site. The company shares soared high, becoming more than 27% in the market. There can be other impacts as well like the liberty of free speech in the platform in future. On the surface it appears Musk is on the way to take more active control on Twitter.
Elon Musk is an active Twitter user who posts random tweets. It is one of his primary ways to engage the world overall and has not only moved stock and cryptocurrency markets but also again stoke the fire of a lot of regulators, some of whom believe his tweets could amount to some kind of market manipulation.
Last Month Musk questioned his 80+ million followers through a poll if Twitter adheres to free speech principle that is essential for democracy, to which majority voted for “No”. A twitter user asked Musk if he would consider building a new social media platform where free speech will be given top priority with minimum propaganda, to this Musk mentioned that he is giving serious thoughts to it.
Hours after his purchase, he posted a poll on Monday (4th April) asking Twitter users if they want an edit button option. Twitter CEO Parag Agarwal endorsed the poll requesting the fellow users to vote very carefully as the outcome of the poll will bear important consequences.