Photo: Tesla on YouTube
Elon Musk decided at some point in the past that Facebook was not the right match for him and Tesla. Later, he did the same thing with SpaceX. Twitter, on the other hand, was more than ok. Now an SEC filing reveals he owns a “couple” of Twitter shares. His investment puts him right next to the biggest backers of the social network.
Elon Musk’s actions in the last two years made a lot of people wary about the entrepreneur’s plans to change transportation and space travel. At times, he seemed all over the place. That’s why the SEC insisted on having his tweets verified by attorneys before they were being published. As you might know already, this didn’t happen. There’s an ongoing lawsuit on the matter.
While his impact on making EVs is certifiably impressive and we can’t disagree with the fact that the man has a way of putting things together just right, owning a lot of Twitter stock raises some red flags. This situation needs to be addressed, as it proves that Musk disregards some basic rules when it comes to doing business. It isn’t fair that such an online celebrity secretly holds this much stock in a company for which he actively brings a lot of activity together with the businesses he runs. There's a possible conflict of interest here.
Moreover, Musk never said anything about having invested in Twitter. The only other social platform he's agreed with is Weibo, a Chinese version of Facebook.
According to an SEC filing verified by Financial Times, Tesla’s CEO has 9.2% of Twitter’s shares. This might come as a surprise for many, especially when you consider that Musk said in the past “Facebook is boring and should be deleted.” This, at the time, revealed a stance against social media that has a knack for checking everything that’s published on the platform and keeps guidelines strongly enforced with the help of bots. But now it can be interpreted as a push for the closure of a direct competitor, something that’s highly disregarded by authorities and key players in the space.
In the end, there’s also a possibility that Musk bought Twitter shares with the money he made from selling Tesla stock just to have some of it. For now, the entrepreneur did not offer any explanation and it is possible he won’t address the matter.
Elon Musk has over 80 million followers on Twitter.
While his impact on making EVs is certifiably impressive and we can’t disagree with the fact that the man has a way of putting things together just right, owning a lot of Twitter stock raises some red flags. This situation needs to be addressed, as it proves that Musk disregards some basic rules when it comes to doing business. It isn’t fair that such an online celebrity secretly holds this much stock in a company for which he actively brings a lot of activity together with the businesses he runs. There's a possible conflict of interest here.
Moreover, Musk never said anything about having invested in Twitter. The only other social platform he's agreed with is Weibo, a Chinese version of Facebook.
According to an SEC filing verified by Financial Times, Tesla’s CEO has 9.2% of Twitter’s shares. This might come as a surprise for many, especially when you consider that Musk said in the past “Facebook is boring and should be deleted.” This, at the time, revealed a stance against social media that has a knack for checking everything that’s published on the platform and keeps guidelines strongly enforced with the help of bots. But now it can be interpreted as a push for the closure of a direct competitor, something that’s highly disregarded by authorities and key players in the space.
In the end, there’s also a possibility that Musk bought Twitter shares with the money he made from selling Tesla stock just to have some of it. For now, the entrepreneur did not offer any explanation and it is possible he won’t address the matter.
Elon Musk has over 80 million followers on Twitter.
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