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Twitter Reacts to Elon Musk New 9.2% Stake in the Twitter App

April 04, 2022

Announced earlier today, the CEO of Tesla Elon Musk buys a large stake in Twitter with a 9.2 percentage. This cost the billionaire 2.89 billion dollars, which people know from the price of Twitter’s stock on Friday. With almost 10 percent of the company, it seems he might be the largest shareholder with Twitter. Jack Dorsey, the app’s former chief executive, has a 2.3 stake. Now, he is trending on Twitter, as Musk is definitely no stranger, especially after having a child with artist Grimes.

NEW – Elon Musk buys $3 billion stake (9.2%) in Twitter and is now the platform's largest shareholder.

— Disclose.tv (@disclosetv) April 4, 2022

Musk has criticized Twitter as of late, criticizing free speech and how this interacts with Twitter. He even posted a poll asking if Twitter “rigorously adheres to this principle” which had an overwhelming response of 70 percent. He asked his followers to vote “carefully” because the “consequences of this poll will be important.” Looking back, many are wondering if this response had anything to do with his purchase of a stake in the app. Musk and Dorsey have both discussed on Twitter the idea of an open-source algorithm in the past, and now many wonder if Musk will join Twitter’s board.

The choice of which algorithm to use (or not) should be open to everyone https://t.co/o2DkSTWW0O

— jack (@jack) March 25, 2022

Either way, many are wondering how Musk’s stake in the company will impact the app and other things to come, causing him and Jack Dorsey to trend together online. Already, many are celebrating Musk’s interaction with app, exciting many Republicans in general, who often claim Twitter is to blame for “political censorship.”

Now that @ElonMusk is Twitter’s largest shareholder, it’s time to lift the political censorship.

Oh… and BRING BACK TRUMP!

— Lauren Boebert (@laurenboebert) April 4, 2022

Not only this, but some are also asking Musk to reinstate Trump’s Twitter account, which was permanently banned after the January 6 riots. Although a 10 percent stake does not seem like that big of a number to control or influence the future of Twitter, many are stating since he and Jack Dorsey are friendly, this could encourage Musk to soon become an active part of Twitter’s board, making decisions and actively being an influence for the app. So far, it is too soon to tell how Musk’s impact will be felt within the company, and if his stake will encourage him to become even more active with the board of Twitter.