Elon Musk maintains his freedom by not joining the Twitter CA

Elon Musk on February 10, 2022 in Boca Chica, Texas (JIM WATSON / AFP / Archives)

By permanently giving up on Twitter’s board of directors, Elon Musk retains the ability to invest even more in the platform, as well as the freedom to ram and criticize it.

The Tesla boss was due to join Twitter’s CA after becoming its largest shareholder last week, thanks to a 9.2% stake in the capital. In this case he would have had to agree not to exceed 15%.

“Musk’s Cinderella fairy tale coming to help Twitter move forward by joining the board and staying below 14.9% turns into a possible Game of Thrones-style battle between Musk and Twitter,” he said. reacted Dan Ives of Wedbush.

A document filed with the American stock cop on Monday specifies that Elon Musk will be able to buy or sell other so-called “common” shares, and that he will be able to discuss with the Board, “without limitation”, various topics, from Twitter’s business to its strategy.

The talkative shareholder, followed by over 80 million people on Twitter, also retains the right to “express their opinions” on the platform, including “via social networks”.

Dan Ives believes Elon Musk could now partner with an investment fund to force Twitter to implement his ideas or even be sold to another group.

But it’s just as possible that the quirky businessman decides on the contrary that the game is over, and refocuses on his many companies, such as Tesla (electric cars), SpaceX (spaceflight) or Neuralink (brain implants), he added. ‘expert .

Tweets deleted

Elon Musk repurchased approximately 73.5 million shares of the Californian company and it quickly became clear that this was not a passive investment.

The richest man in the world has multiplied the provocations and polls last week about the changes he is considering for Twitter.

Elon Musk bought about 73.5 million shares of the Californian company Twitter
Elon Musk bought about 73.5 million shares of the Californian company Twitter (Lionel BONAVENTURE / AFP / Archives)

“Everyone seems to think Musk wants a bigger chunk of the business than the board would allow,” noted Carolina Milanesi, an analyst at Creative Strategies.

“He would never have followed the rules, it doesn’t suit him,” he added.

Several controversial tweets posted this weekend by Elon Musk have gone missing, including two polls: “Remove w in twitter?” (with either “yes” or “obviously” as an answer of your choice) and “Convert the Twitter headquarters in San Francisco into a homeless shelter since no one goes there anyway.”

His suggestions for changes to the paid subscription plan for the Twitter Blue social network have also been deleted from his profile.

“For fun” ?

At the time of the announcement of Elon Musk’s arrival on the board, Twitter general manager Parag Agrawal described him as “a passionate and intense critic of the network, which is just what we need”.

The entrepreneur has repeatedly criticized the platform on freedom of expression, believing that it went too far in content moderation.

On Saturday he wondered if the social network was “morindo”, citing accounts that are very popular but not very active.

And last week, he conducted a survey asking if users wanted an “edit” button to correct a tweet after posting. The overwhelming majority of the 4.4 million voters answered “yes”.

The platform then announced that it was testing this feature, while stating “did not have this idea thanks to a survey”.

“He pulls a lot of ideas out of his hat,” but just because he has a huge following doesn’t mean he knows how to help Twitter make more money, comments Carolina Milanesi.

For Avi Greengart of Techsponential, Elon Musk could see Twitter as a good investment, because the network “has room in terms of revenue growth through subscriptions and advertising.”

“Or he’s doing all of this just for fun,” the analyst added.

On Tuesday, the business leader said he was “looking forward to working with Parag and the Twitter board to implement significant improvements (…) in the months to come!”.

But on Sunday night, when Parag Agrawal announced that he wasn’t joining the council after all, Elon Musk simply tweeted a laughing emoji.

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