Twitter Continues to Struggle with Mr. Elon Musk, the Largest Share Holder of the Company
Wahab Khan 
Elon Musk reportedly aims to take over Twitter and has already given his offer to the company. He sent the administration a surprising document, sharing his intentions toward the social media platform. The world’s richest man revealed that he has collected a 9.2% stake and highlighted how he is in a drastically changed position from previous weeks.
Elon Musk is one of the highest-profile users of Twitter and has the maximum shares of the company. The new document sent by Mr. Musk says he could purchase more shares of Twitter if he wanted and accordingly enhance his ownership of the firm. He could express what he thinks about Twitter whenever he wanted.
The document comprising the Securities and Exchange Commission notes Mr. Musk reserved the right to make changes to his plans whenever he considers appropriate. It is still vague whether the document was a threat or a promise. Either way, the paper summarizes the disloyal situation for Twitter. 50-year-old Mr. Musk could benefit from the social media platform against Twitter and purchase enough shares to take over the company.
According to Jason Goldman, one of the founders and former board of directors of Twitter, the company has always experienced trouble for its reasonable share of dysfunction. But, prospective board members did not get active trolls for using the product they created.
The document led to a high-stakes drama between Twitter and the billionaire. Mr. Musk had collected the company’s shares, worth more than $3 billion, Twitter revealed last week. The company invited him onto its 11-person board, where he agreed that he would not have more than 14.9% shares of Twitter or take over the company. The company then unexpectedly confirmed that Elon Musk would not become the director, though it is not clear what happened between Twitter and Mr. Musk.
However, the scenario leaves Twitter puzzled. It has survived power struggles, remote shareholder rage, and boardroom revolutions. Elon Musk has more than 81 million followers on Twitter. He leads SpaceX, the rocket company, and Tesla, an electric carmaker. Mr. Musk is famous for his unpredictability and straightforwardness. He often uses Twitter to troll and criticizes others. Mr. Musk did not join the board and released himself from corporate governance rules, requiring him to act in the best interests of Twitter and its shareholders.
Elon Musk seemed to relax after communicating his message to the company on last Saturday. He announced that he was in trolling mode and gave several suggestions. These include opening the company’s San Francisco headquarters to shelter the needy. Musk was also in favor of removing the letter ‘w’ from the company’s name to make it look more offensive, though he later deleted some posts.
The co-chairperson of the global Shareholder Activism Group, Ele Klein, said this is not the usual activism that the company has seen before. Mr. Musk does not do familiar things. The co-head of the Shareholder Activism Practice, Mr. Patrick Gadson, expressed his views, saying that he has sympathy for the company and would never want any director to manage this situation.
