Over the past few days, the world’s richest person has gone from being one of the loudest influencers on Twitter to being the company’s largest shareholder and board member. Managing the mostly quiet Twitter, which now has to deal with the popular, active businessman.
“He launched rockets into space and helped solve the world’s energy crisis,” said Matt Navarra, a social media consultant and industry analyst. ».
Musk would be an extraordinary addition to Twitter’s board of directors. He is not an expert in , which is how Twitter makes money, and he has a habit of clashing with regulators who are in fact a constant concern for any major social media platform. Jack Dorsey, the former CEO of Twitter, is set to leave the board later this year when his term ends.. Unlike Dorsey and Musk, the remaining 10 board members don’t have much of a reputation, barely tweeting but including one who hasn’t tweeted a day at all.
Twitter shares have jumped more than 17% since Musk disclosed his holdings, a sign that investors believe he will have the inclination and influence to help the company achieve ambitious growth goals. Last year, under pressure from activist investor Elliott Management Company, Twitter set a target To reach 315 million daily active users, and double his revenue by the end of 2023.. But some analysts are skeptical that the type of publicity following Musk will be beneficial to Twitter.
Despite all the turmoil, the most chaotic era in the board is yet to come. “It is very likely that Musk’s appointment to the Twitter board will cause controversy and a lot of drama,” Navarra said.
Musk, 50, gave some hints regarding his plans on Twitter. Since Jan. 31, when he quietly began taking over Twitter posts, Musk has criticized the company for “failing to uphold the principles of free speech.” Most recently, he promised that Twitter’s next board meeting “will be public.”
Some analysts expect Musk to take an active role in Twitter’s product development and policy moves — including, most likely, its decision to permanently remove Donald Trump from the platform in 2021.
“Musque will probably try to get the company to go a little easier on editing the content,” said Ali Maghareby, chief equity analyst at Morningstar Investments, who has predicted that the billionaire will push to reactivate Trump’s account. But it’s unclear how much force Musk can wield. On this decision, as a member of the Board of Directors, he alone controls regarding ten shares of the company.
Several Twitter employees indicated that they were concerned regarding Musk’s attitudes towards moderation in content, as well as allegations of racism at the Tesla factory, and another Twitter employee described those who were upset by Musk’s appointment as a “minority”.. Musk is scheduled to answer employees’ questions directly When he joins the comprehensive company meeting next week.
From now on, employees may get a more detailed look at Twitter’s decision-making process via Musk’s own posts.. Whatever mysteries surround Musk’s plans for Twitter, they likely won’t remain a mystery for long.
