Elon Musk invests 2.7 billion euros in Twitter, the stock market panics

Yet accustomed to criticizing Twitter, Elon Musk has just made an astonishing announcement. Indeed, the CEO of Tesla has just invested 2.7 billion euros in the capital of the social network. The billionaire now owns 9.2% of Twitter thanks to the acquisition of 73.5 million common shares.

elon musk twitter capital
Credits: Pixabay

Elon Musk is one of the most influential users of Twitter, with his 80 million subscribers. However, the richest man in the world today has often been the author of many controversies and overflows on the social network. We remember his sulphurous remarks about Twitter revealed during a defamation trial, or the publication of this interview during which he smokes a huge joint.

The boss of Tesla has never hidden his distrust of Twitter and social networks in general, as evidenced by this survey published on March 25, 2022 in which he asks his subscribers to answer the following question: “Freedom of expression is essential to the proper functioning of a democracy. Do you think Twitter adheres to this principle? The billionaire had specified that the result of this survey was going to be “important”.

READ ALSO: Elon Musk Sells More Than 3 Million Tesla Shares Following Twitter Poll

Elon Musk sets out to conquer Twitter

Now we know why. We just learned thatElon Musk has just invested no less than 2.7 billion euros in the capital of Twitter. According to a document filed with the American stock market regulator, the SEC, Elon Musk acquired nearly 73.5 million ordinary shares of the social network on March 14, or nearly 9.2% of the company’s stock market value. Unsurprisingly, Twitter’s share price exploded on Wall Street on Monday morning, gaining more than 25%.

Elon Musk is therefore now one of the most important shareholders of the social network. How will he enjoy this new position? This question remains unanswered for the moment. The most attentive of you will have noticed that the survey published by the CEO of Tesla was put online after this surprise entry into the capital of Twitter. For Wedbush analyst Dan Ives, Elon Musk is only at the beginning of his conquest of Twitter : “This minority stake is likely the starting point for a conversation with Twitter management, which could then lead to a more active and potentially more aggressive role.” And you, what do you think of the arrival of Elon Musk in the capital of Twitter? Tell us in the comments.

Source: Le Figaro

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