Tesla CEO Elon Musk buys almost 10% of Twitter

Regularly, Elon Musk is at the origin of an unprecedented commotion on Wall Street. Today, we have just learned that the businessman had bought nearly 10% of the social network Twitter. Inevitably, the share price of the social network should explode at the opening just now.

Elon Musk gets a big share of Twitter

We might have guessed that. A few weeks ago, Elon Musk spoke on Twitter. He spoke of freedom of expression (fundamental in his eyes, except in his business) and hinted at wanting to found his own social network.

Today, we connect the dots together and everything makes sense. Indeed, we have just learned, via a publication of the SEC (the American policeman of the financial markets), that the CEO of Tesla has acquired 9.2% of the capital of Twitter, listed on the stock exchange. His operation dates back to March when he bought 73.5 million shares of Twitter for $2.9 billion.

Contrary to his habit, the CEO of Tesla and SpaceX was relatively discreet on this subject. But now that it’s no longer a secret, Wall Street is on fire and Twitter action has taken off by more than 25% in a few hours during pre-trade trading. At the opening, at 3:30 p.m. (Paris time), its price should jump.

Indeed, this is not the first time that a simple tweet from Elon Musk panics the Stock Exchange but not only. Indeed, a few months ago, all he had to do was slip “Bitcoin” into his bio for the price of the latter to soar. In the same vein, all the businessman had to do was tweet in favor of Cyberpunk 2077 to blow up the stock price of video game studio CD Projekt RED. His speeches on social networks greatly influence his “fans”.

Thus, with this survey posted a few weeks ago, the businessman probably had to take the temperature before engaging, perhaps, in serious discussions with the current management of Twitter. Especially since he shares a common vision with the founder of the social network, Jack Dorsey, around cryptocurrencies and the future decentralized web.

As for what this means concretely for Twitter, it is still too early to know. But for many months, we have been hearing about a decentralized social network. Last December, Jack Dorsey (founder of Twitter and ex-CEO) and Elon Musk had already embarked on a lively debate on Web3. A first step to get to the heart of the matter from Elon Musk?

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