Elon musk bought just under 10 percent of Twitter shares and became the company’s largest shareholder. This unexpected move of the richest person in the world surprised millions.
Billionaire Elon Musk has always taken a personal and professional interest in Twitter. He is one of the active and productive users of Twitter. He has currently about 44 million followers. This is a huge number that cannot be underestimated.
Musk’s posts were for important business updates and often pointed to internet memes. But in recent months, Musk has begun to show an increasing interest in the mechanics of the site and the work being done to improve it. These posts started getting more specific last month. In late March, Musk began asking his followers if Twitter was working properly (after the acquisition was complete but before it was announced, according to the U.S. Securities and Exchange Commission statement).
On March 24, he conducted a survey of his followers, writing that “The Twitter algorithm should be open source,” and 83 percent of his followers agreed with this proposition. He held another vote the next day. “Freedom of expression is essential to a functioning democracy,” he wrote.
As a minority shareholder, Musk will not be able to directly change the engineering priorities of the company’s employees. However, it is clear that he is both admiring and critical of the site. This situation probably fed the decision to buy a large share of the company.
