Elon Musk: Tesla boss buys Twitter shares – according to survey

Created: 04/05/2022, 11:58 am

By: Sebastian Oppenheimer

Elon Musk is always good for a surprise: Now the Tesla boss has bought into the social media platform Twitter.

Update from April 5, 11:30 a.m .:

For Elon Musk (50), Twitter is an important communication tool.

So important that the Tesla boss has now become the largest shareholder in the short message service, according to a mandatory announcement that has now been published.

Hardly a day goes by when the Tesla boss doesn't share his thoughts with his approximately 80 million followers.

Every now and then the 50-year-old asks his subscribers for their opinion.

Last year, for example, he had a vote on whether Tesla shares should be sold.

In his most recent poll, Musk asked a vote on whether Twitter adhered to the principle of free speech.

He wrote: "The consequences of this poll will be significant."

Elon Musk: Tesla boss buys Twitter shares – according to survey

The result: Around 70 percent of the participants were of the opinion that freedom of speech was not implemented consistently enough on Twitter.

One user even wanted to know if Musk was considering building his own social network, like former US President Donald Trump is doing.

And the Tesla boss was also seriously considering it.

It is unclear whether Musk has rejected this idea.

At least he has now bought into Twitter and holds a 9.2 percent share.

In total, the 50-year-old has acquired 73.5 million Twitter shares.

The package is valued at around $2.9 billion based on Friday's share price.

The Twitter course then temporarily increased by more than a quarter in pre-market US trading.

Elon Musk: Is Tesla boss planning a Twitter takeover?

However, Musk bought the shares on March 14, a good two weeks before he posted the survey on Twitter.

This emerges from an SEC announcement.

However, it is still unclear what plans the Tesla boss has as a major shareholder of Twitter.

Analyst Dan Ives of Wedbush Securities suspects on "CNBC" that Musk will try to pressure Twitter to change.

For example, a takeover is also conceivable.

At least Ives doesn't believe that the 50-year-old will just be a silent investor: "This is just the beginning." Musk has not yet commented on his plans on Twitter.

First report from March 28, 11:16 a.m .:

Austin (USA) – Most people would probably be more than busy with the management of an electric car manufacturer – not so Tesla boss Elon Musk (50).

He founded the tunnel construction company "The Boring Company" "on the side" and is CEO of the space company SpaceX.

But even that doesn't seem enough - the 50-year-old is considering starting his own social media platform, as reported by 24auto.de.

Tesla boss Elon Musk is thinking about starting his own social media platform.

(Iconic image) © Political-Moments/Imago

Elon Musk: Tesla boss is considering establishing his own social media platform

There is hardly a company boss whose social media posts regularly make waves as high as Elon Musk's.

More than 79 million people follow the 50-year-old on Twitter.

Obviously, the Tesla boss does not really see freedom of expression on this platform.

"Freedom of expression is essential for a functioning democracy," writes Elon Musk - and called on his followers to vote on this question: "Do you think Twitter strictly adheres to this principle?"

Elon Musk's own social platform?

"I'm seriously considering it"

"The consequences of this survey will be significant," added the Tesla boss.

"Please vote carefully." More than 70 percent voted "no."

A Twitter user then asked the Tesla boss if he was considering building a new social media platform.

"I'm seriously considering it," Musk replied.

In fact, the Tesla boss is not allowed to tweet what he wants – but that also has something to do with the US Securities and Exchange Commission (SEC).

Occasionally, his tweets spark heated discussions, such as recently when the topic of the range of electric cars was discussed.

Sometimes, however, Twitter users also address questions or requests directly to the Tesla boss – Elon Musk has just been asked to paralyze all Teslas and in Russia and Belarus because of the Ukraine war.

Elon Musk's own social platform?

Many others failed with the idea

It is questionable, however, how high Elon Musk attaches freedom of expression in his own company.

A Tesla employee was recently fired - allegedly because he had criticized Tesla's "Autopilot" or the FSD system in YouTube videos.

But even for Elon Musk, setting up his own social media platform will not be easy - it has so far been difficult to get past the established players such as Facebook, Twitter and Instagram.

Even the web giant Google once failed with its social network Google+.