The billionaire began buying shares in late January but his interest accelerated in early April.
The billionaire founder of Tesla and SpaceX began buying shares social media platform Twitter in late January but his interest accelerated in early April.Twitter users woke up April 4 and found the words “Elon” and “Elon Musk” trending on the site — not because the world’s richest, most-followed businessman had caused a stir with his futuristic companies, but because he’d disclosed a major stake in Twitter Inc.
“Worried about de facto bias in the Twitter algorithm having a major effect on public; Twitter algorithm should be open source,” Musk tweeted on March 24. Later that day, Musk refiled the disclosure of his stake to classify himself as an active investor, making the change only after indicating that he would accept a seat on the social media company’s board.The day that Musk was set to officially join Twitter’s board, Musk informed the company thatBut, Twitter sat on the news for roughly 36 hours while waiting to see whether Musk would change his mind. Twitter’s investor relations website listed Musk as a board member throughout the weekend.
Musk suggested that everyone who signs up for Twitter Blue, a subscription version for power users, should get an authentication checkmark. He suggested Twitter should convert its San Francisco headquarters into a homeless shelter “since no one shows up anyway.” And he made some crass jokes, suggesting removal of the “w” in Twitter.On Sunday, Agrawal sends out a note to employees, and later tweets it publicly. Neither Agrawal or Musk give a reason for the reversal.
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