Technology / 19 April 2022
Elon Musk turns Twitter troll
Last week, we talked about the SpaceX/Tesla boss becoming the biggest shareholder of social media giant Twitter. But while we were eating HXBs on the long weekend, Musk upped the ante and launched a US$43 billion takeover of the company. He says he wants to release the platform’s “extraordinary potential” to support free speech and democracy worldwide. Twitter: not so thrilled… It launched a defensive strategy known as a ‘poison pill’ that would enable other shareholders to dilute Musk’s 9% stake – long story short, it’s a sign Twitter’s board will fight hard to keep control away from Musk. There are a few hurdles Musk still needs to clear if he is to buy the company, including sourcing the funding, which may involve selling down his share in his electric car company Tesla. There’s never a dull moment when you’re the world’s richest man…
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