In July 2020, it was reported that Elon Musk, the founder, CEO, and CTO of SpaceX, had purchased Twitter
The move comes as Twitter's stock price has been volatile recently, and Musk has been an active social media platform user.
Musk has been a vocal supporter of Twitter and has used it to communicate with his millions of followers on various topics, including his businesses, technology, and space exploration.
In the past, Musk has also used Twitter to promote his businesses, and he has even offered to buy the social media platform.
It is not clear why Musk has purchased Twitter shares at this time, but it could be a sign that he believes in the platform's future.
Twitter has been struggling to grow its user base and generate revenue, and it has been under pressure to sell itself.
Musk's investment could give the social media company a much-needed boost of confidence.
Elon Musk, the billionaire founder of Tesla and SpaceX, has bought $25 million worth of Twitter shares, according to a filing with the Securities and Exchange Commission. The purchase was made through a holding company called Neuralink, a neurotechnology company that Musk founded in 2016.
The purchase price was not disclosed, but it is believed to be in the range of $15 million to $20 million. This is a significant purchase for Musk, with a net worth of $24.6 billion.
Musk is no stranger to Twitter, as he is an active user with over 30 million followers. He is also no stranger to making headlines on Twitter, as he has used the platform to announce major news about his companies, including Tesla and SpaceX.
Musk has been a vocal critic of Twitter in the past, calling it a "joke" and a "dumb platform" in October 2019. However, he appears to have changed his heart, as he tweeted in July 2020 that he was "excited to be part of the Twitter team."
It is not yet clear what Musk plans to do with Twitter, but he will likely use it to promote his businesses and products. He has already used Twitter to announce that Neuralink will launch a product in 2021.
This is a significant purchase for Musk, and it will be interesting to see how he uses Twitter in the future.
Twitter has announced that it will downsize its workforce by 8% to cut costs. This is a significant reduction in staff, and it will undoubtedly have an impact on the company and how it operates. Twitter has been struggling to grow its user base and generate revenue, and this move is likely a response to those challenges. It remains to be seen how this will affect the social media platform in the long run, but it is undoubtedly a significant change.
It is not clear why Musk has purchased Twitter shares at this time, but it could be a sign that he believes in the platform's future. Twitter has been struggling to grow its user base and generate revenue, and it has been under pressure to sell itself. Musk's investment could give the social media company a much-needed boost of confidence.
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6 months, 1 week ago by
nehafzal
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