What Elon Musk's US$3 billion Twitter deal means for him – and for social media
- Written by Hamza Mudassir, Lecturer in Strategy, Cambridge Judge Business School
The world’s richest man, Elon Musk, is now Twitter’s largest shareholder after acquiring a 9.2% stake in the social media platform for just under US$3 billion (£2.3 billion). The announcement drove Twitter’s share price up 27%, and it continued to grow in after-hours trading.
This investor enthusiasm is not surprising....