Stock price rises sharply: Musk becomes Twitter’s largest shareholder

Status: 04/04/2022 14:00

With a stake of more than nine percent, Tesla boss Elon Musk has become the largest shareholder in Twitter. The richest person in the world uses the short message service as a spokesperson.

Tesla boss Elon Musk is the largest shareholder in Twitter. The tech billionaire has a 9.2 percent stake. This is the result of a mandatory notification that has now been published. Consequently, Musk owns 73.5 million shares of Twitter. Based on Friday’s rate, the package is valued at about $2.9 billion. The shares then temporarily rose by more than a quarter in US premarket trading.

Musk with around 80 million subscribers

Musk is one of the most well-known Twitter users with 80.1 million subscribers. Just a week ago, Musk had the platform vote on whether the service strictly adheres to the principle of free speech. “The consequences of this survey will be significant,” he wrote. In the survey, 70 percent found that, in their view, Twitter does not implement freedom of expression consistently enough.

Conservatives and supporters of former President Donald Trump in particular criticized Twitter for cracking down on incorrect and dubious information about the coronavirus. Trump is banned from Twitter after his words of support for his supporters who stormed the Capitol on Jan. 6, 2021. The service has so far emphasized that there is no turning back for the former president.

Musk also downplayed the dangers of the virus in the early days of the pandemic and criticized California’s Covid restrictions as “fascist.” For him, Twitter is an important communication channel.

Twitter founder Jack Dorsey only stepped down from the top of the Twitter pack in November, handing over the baton to Parag Agrawal. Agrawal announced that he would focus more on the business with more than 215 daily users.

Next delivery record for Tesla

Musk is by far the richest person in the world. The financial service Bloomberg estimates his fortune at $273 billion, mainly thanks to shares in the electric car manufacturer Tesla and the space company SpaceX. Twitter’s market value was a good $31 billion.

The electric car maker announced over the weekend that it had once again set a delivery record in the first three months of the current year. The quarter was extraordinarily difficult, Musk wrote on Twitter. Supply chain and Corona problems would have made themselves felt.

However, at the beginning of the year a total of 310,048 vehicles were delivered. That was about 1,500 more than in the last quarter of 2021, the sixth record for consecutive deliveries. For the full year, Tesla had increased its deliveries by 87 percent compared to 2020 to around 936,000.

Tesla boss Musk joins Twitter and becomes its biggest shareholder

Marcus Schuler, ARD Los Angeles, April 4, 2022 4:31 pm

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