Twitter Inc.’s largest shareholder Elon Musk asked his followers if the social network is dying, after he bought a stake in the company now worth over $3 billion.
Twitter Inc.’s largest shareholder Elon Musk asked his followers if the social network is dying, after he bought a stake in the company now worth over $3 billion.
Citing a tweet listing the most followed Twitter accounts, the Tesla Inc. CEO pointed out that many of them are rarely active.
The billionaire pointed to pop stars Taylor Swift and Justin Bieber, who have over 200 million followers between them, but who appear rarely active on the platform.
Musk disclosed a 9.2% stake in the social media company on Monday and has wasted little time in trying to shake it up. He has since called for an edit function and criticized crypto currency bots as the “most annoying” problem.
Twitter CEO Parag Agrawal welcomed his new largest shareholder, giving Musk a seat on the board. The appointment ends the possibility of Musk mounting a takeover of Twitter, capping his ownership at 14.9% during his time on the board.