Elon Musk\u0027s move comes close on the heels of his tweet that he was giving \u0027serious thought\u0027 to building a new social media platform
A prolific Twitter user, Musk has over 80 million followers since joining the site in 2009 and has used the platform to make several announcements, including teasing a go-private deal for Tesla that landed him in regulatory scrutiny.
“We would expect this passive stake as just the start of broader conversations with the Twitter board/management that could ultimately lead to an active stake and a potential more aggressive ownership role of Twitter,” Wedbush analyst Dan Ives wrote in a note. Twitter was the target of activist investor Elliott Management Corp in 2020, when the hedge fund argued its then-boss and co-founder, Jack Dorsey, was paying too little attention to Twitter while also running Square.
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