Elon Musk purchased a 9.2% stake in Twitter this week. As with most things with the billionaire, it caused a firestorm on all sides of the aisle. Although Elon’s stake in the company is larger than founder Jack Dorsey’s share, it is a passive and not controlling interest. It is large enough, however, to get Elon appointed to Twitter’s board of directors.
The fact that Elon is seeking out an active role on the board means that he has a plan to somehow change the social media giant versus it just being an investment in his portfolio. There are a lot of theories floating around as to what he is going to do. Some pundits are arguing that he is trying to reverse the censorship trend that has taken hold at the company, with conservative voices getting de-platformed now on an almost daily basis.
Dave Rubin seems to think it is a ploy to expose Twitter’s dark side to the light.
This seems unlikely as doing this would have a negative impact on the stock price and tank his sizable investment in the company of around 3 billion dollars. The eccentric investor is worth somewhere north of 260 billion dollars so the chances are not zero that he would burn Twitter to the ground, however.
Musk has been notorious for putting out high stakes Twitter polls, like the time he said he would sell Tesla stock if his followers voted for it. Maybe it’s possible that Musk just wants an edit button on Twitter and decided to buy himself one.
At the time of this writing 74 percent of people were voting “yse” on the poll, which we must assume is in the affirmative for the added function. Maybe Musk is trying to amuse himself, like the time he started a flamethrower company just for kicks. When you are the richest man on earth, and some people have been projecting he will be the world’s first trillionaire, you must look for different ways to amuse yourself. Maybe Twitter is his version of a red sports car in a mid-life crisis. One thing is for sure, the progressive wing of the company has been melting down every day since the purchase and that is fun enough in itself.