Elon Musk’s acquisition of 9.2% of Twitter may be “just the appetizer” of what's to come from Musk’s possible takeover of the social media platform, tech analyst Dan Ives said Monday.
As reported by Rebel News earlier Monday, Twitter shares surged after a regulator filing was released and showed that the world’s richest man and “free speech absolutist”, Elon Musk, had become the platform's largest shareholder.
Musk’s public acquisition of the massive stake in the company comes a week after he took to Twitter to ask his audience if they thought Twitter adhered to the principle of free speech and asked what he should do about it.
CNBC reported that the “filing marks Musk’s accumulation of common shares to March 14. Musk’s stake is passive according to the financial disclosure.”
“Musk could try to take a more aggressive stance here, on Twitter,” Ives said on CNBC’s Squawk Box. “This eventually could lead to some sort of buyout.”
“It’s no surprise that he wanted to do something on social media, and this is really him not just talking to the talk, but walking the walk,” he added, referring to Musk’s prior remarks.
“This is just a starter … Musk is not gonna do this just to take a passive stake,” Ives asserted. “He’s gonna ultimately try to either really change Twitter in terms of a more active stake or eventually, could lead to a buyout.”
“This morning Elon Musk revealed he now owns a 9.2% passive stake in Twitter,” Ives said on Twitter. “We would expect this passive stake as just the start of broader conversations with the Twitter board/management that could ultimately lead to an active stake; more aggressive ownership role of Twitter.”
Speaking to Yahoo Finance also on Monday, Ives said that Musk’s acquisition is “just the appetizer,” and that he is “likely to increase it and have more of a voice.”
When Musk asked his audience what they thought of Twitter, he also took questions from members of the public, including one who asked him if he would consider building a new social media platform, “one where free speech and adhering to free speech is given top priority, one where propaganda is very minimal.”
“Am giving serious thought to this,” Musk replied.