What are Elon Musk’s plans for Twitter?

By Jane Wakefield

Expertise reporter

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Musk is now the one useful shareholder in Twitter – so what’s his subsequent straggle?

Elon Musk did no longer genuinely tweet about his new stake in Twitter, which for an avid tweeter appeared fairly ironic.

Perchance it was given that 9.2% he now owns is described as a passive stake, though of us who know Musk enact not predict it to defend that scheme for extended.

His first straggle was to start a poll – asking whether or not or not of us need an edit button, one thing extended often known as for and presumably one thing he individually needs.

The model new announcement that he will be half of Twitter’s board comes as no shock.

In a tweet on Tuesday, Twitter chief government Parag Agrawal talked about “by scheme of conversations with Elon in latest weeks, it grew to turn into specific to us that he would convey big tag to our Board”.

I’m offended to fragment that we’re appointing @elonmusk to our board! Via conversations with Elon in latest weeks, it grew to turn into specific to us that he would convey big tag to our Board.

— Parag Agrawal (@paraga) April 5, 2022

The BBC is no longer any longer responsible for the relate materials of exterior internet websites.Choose fashionable tweet on Twitter

He added that “as a passionate believer and intense critic” of the provider, he is “precisely what we want”.

Later Musk answered asserting he was having a stare ahead to creating modifications on the social community in depth.

Taking a stare ahead to working with Parag & Twitter board to make major enhancements to Twitter in coming months!

— Elon Musk (@elonmusk) April 5, 2022

The BBC is no longer any longer responsible for the relate materials of exterior internet websites.Choose fashionable tweet on Twitter

Musk’s 9.2% stake throughout the social media firm may perchance nicely moreover sound little, nevertheless Dan Ives, from analyst agency Wedbush, describes it as “study-popping” – equating to 73.5 million shares throughout the social community.

Shares throughout the platform soared following Monday’s revelation that the Tesla founder had turn into the useful shareholder throughout the company – that scheme that stake has already grown in tag and is now worth greater than $3bn.

Musk’s shareholding is 4 cases larger than that of Twitter founder Jack Dorsey, who stepped down as chief government in November.

Mr Ives believes the South African entrepreneur now has his eyes “laser residence” on Twitter, and his major preserving will research him push for an brisk position throughout the administration of the company.

“We’d predict this passive stake as aim right the provoke of broader conversations with the Twitter board/administration which may perchance nicely moreover lastly result in an brisk stake and a most likely extra aggressive possession position of Twitter,” he talked about.

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When Elon Musk has an idea, he most incessantly turns to Twitter to express it

Musk has one thing of a treasure-abhor relationship with Twitter. He is a frequent tweeter, with greater than 80 million followers – and no stranger to controversy in his interactions on the social media dilemma.

The platform seems to be wish to swimsuit his impulsive character – remaining twelve months he famously requested if he must peaceful promote 10% of his inventory in his electrical automotive agency Tesla, to which Twitter prospects talked about ‘sure’. It led to Musk promoting spherical $5bn (£3.7bn) of shares throughout the agency in November.

Months earlier he had supplied to sign a cheque for $6bn if the World Meals Programme (WFP) may perchance nicely moreover convey how it will be feeble to clear up hunger throughout the globe – after an assertion made by the top of the UN programme.

However tweeting has moreover acquired him into peril. A 2018 put up about Tesla inventory led to an investigation from the Securities and Commerce Payment which ended with an settlement requiring the agency’s attorneys to pre-approve specific tweets. It’s unclear if that genuinely happens.

Curiously, the Wall Side highway Journal evaluations that his Twitter fragment filings with the Securities and Commerce Payment (SEC), which underneath fashionable situations would comprise a line asserting he does not intend to steer the company, got here with a ‘Now not Relevant’ imprint.

The timing of the deal has moreover raised questions and might throughout as soon as extra assign Musk at loggerheads with monetary regulators.

His funding in Twitter was filed on 14 March, nevertheless not introduced until this week. US securities regulation requires disclosure inside 10 days of buying 5% of an organization.

Free speech

Musk makes use of Twitter not aim right as a barometer for the way he runs his possess corporations, nevertheless moreover an growing variety of to make use of the temperature of the nation.

Closing month, after he had lodged his funding with the SEC – nevertheless earlier than his shareholding grew to turn into public data – he requested prospects whether or not or not they believed that free speech was important to a functioning democracy and whether or not or not Twitter adheres to this idea.

Cornell School’s assistant professor Alexandra Cirone thinks proper right here is proof he may perchance nicely moreover use his new stake “to make use of a stare at to steer Twitter practices” and for a “extra crammed with life play throughout the social media eco-gadget”.

However others research extra fast factors along with his musings.

Howard Fischer, accomplice at regulation agency Moses & Singer, instantaneous Reuters that, given he had already bought a stake in Twitter, these questions may perchance nicely moreover very correctly be considered as a type of market manipulation. “I enact suspect the SEC goes to stare extended and onerous into whether or not or not they will convey manipulation prices, alongside with the failure to file,” he talked about.

Mr Agrawal is clearly gazing his each straggle. In accordance to his edit button poll, which at present has 2.6 million responses, he instantaneous voters to enact so “fastidiously”.

“The penalties of this pollwill be important,” he talked about, echoing the precise linked phrases Musk feeble after he launched his free speech Twitter poll.

Jack Dorsey had continuously rejected the premise, and critics level out that it’d perchance nicely perchance perchance moreover allow of us to basically substitute the that scheme of tweets after they have been shared.

It’d perchance nicely perchance perchance be an enormous substitute for Twitter to include an edit button, and Musk is clearly sharp to be fragment of that dialog.

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Many wishing to be half of Trump’s new Twitter come by discovered they’re on a prepared guidelines

For a whereas remaining month, it considered if Musk was intent on constructing a brand new social media platform as a rival to Twitter – and there he does come by precedent from however another prolific and controversial tweeter.

Donald Trump, who was banned from Twitter in January 2021 after the Capitol riots, introduced remaining autumn that he was launching his possess social community – dubbed Reality Social – to “stand as a lot because the tyranny of large tech”.

However six weeks after its supply, there’s a prepared guidelines of 1.5 million who’re unable to put it to use – with the platform branded a effort by Joshua Tucker, director of NYU’s Heart for social media and politics.

In line with Reuters, two key executives give up after the petrified supply.

For these with shares in Musk’s many fully completely different companies – Function X, Tesla, Neuralink, The Dreary Firm – there’ll most likely be a say of discount that he did no longer creep down the linked route as Mr Trump.

However there’ll moreover be considerations that he has however however another passion undertaking to distract him from the additional particular alternate of working his established corporations.

Now not to level out the factors which may perchance nicely moreover now be raised concerning the Twitter deal by the SEC.

Social media knowledgeable Casey Newton choices out that it’s not the primary time an enormous tech agency has eyed Twitter. Microsoft chief government Steve Ballmer as soon as bought a 4 p.c fragment of the company “and surely did nothing with it,” he writes.

However he goes on to relate that Ballmer by no means tweeted be happy Musk did: “gleefully, annoyingly, continuously”.

And it seems to be like in all chance that it’d perchance nicely perchance perchance even be from this Twitter epic that Musk will let the enviornment know what he intends to enact subsequent.