The New York Times suggested Tesla CEO Elon Musk’s possible intentions for Twitter could prove “treacherous” for the company.
On Monday, the newspaper published an article titled, “Twitter Grapples With an Elon Musk Problem.”
The Times noted Musk sent the government a new document laying out his “possible intentions toward Twitter.”
According to the document, Musk could buy more shares of Twitter.
Additionally, the document noted Musk could “freely express” his views about Twitter.
The Times explained, “It was a promise — or perhaps it was a threat. Either way, the filing encapsulated the treacherous situation that Twitter now finds itself in.”
It continues, “Mr. Musk, 50, Twitter’s largest shareholder and one of its highest-profile users, could very well use the social media platform against itself and even buy enough shares to take over the company.”
The newspaper pointed out the filing comes after a week of “high-stakes drama” between the CEO and Twitter.
“What exactly went on between Mr. Musk, who has more than 81 million followers on Twitter, and the company’s executives and board members is unclear,” the Times reported.
It goes on, “But it leaves Twitter — which has survived founder infighting, boardroom revolts and outside shareholder ire — with an activist investor unlike any other.”
Read the article below:
Elon Musk, Twitter’s largest shareholder and one of its highest-profile users, could very well use the social media platform against itself and even buy enough shares to take over the company. It leaves Twitter with an activist investor unlike any other. https://t.co/KB3YHkXq3k
— The New York Times (@nytimes) April 11, 2022
Less than a week after Twitter announced Musk would be joining its board of directors, Twitter CEO Parag Agrawal announced he would no longer be doing just that, as IJR reported.
The Times wrote, by no longer joining the board, Musk “liberated himself from corporate governance rules that would have required him to act in the best interests of the company and its shareholders.”
Employees inside Twitter on Monday reportedly “were dismayed and concerned by Mr. Musk’s antics.”
Some employees were “relieved” after learning Musk would not be joining the board.
Concluding the piece, the Times wrote, “Mr. Musk could continue toying with Twitter, the current and former employees said they had realized. Several added that they were afraid of what might come next.”