The multi-entrepreneur visionary and billionaire Elon Musk announced this Tuesday to leave Twitter “for a while”. He booked this announcement precisely on Twitter from his 45 million followers.
Although he did not give the reasons for this choice, his statements on the social network contributed to fueling a stock market frenzy causing the securities of several companies to skyrocket.
Last week, the South African-born entrepreneur, also founder of rocket manufacturer SpaceX, became involved in the GameStop affair, a chain of video game stores. In a tweet, Elon Musk had taken off the course of this company, shaking the hedge funds which were precisely betting on a drop.
A few hours later, the whimsical boss’s praise on Twitter for Etsy, a site specializing in small designers, had also boosted its share price.
It was not the first time that Elon Musk’s tweets had moved the markets: by evoking bitcoin on social networks, he had raised the price of the cryptocurrency.
Tweets that cost him dearly
However, his presence on Twitter has also caused him some legal problems in the past.
He was thus forced out of the chair of Tesla’s board of directors in 2018 after a serious run-in with the US Securities and Exchange Commission, accusing him of misleading investors by tweeting about a possible Tesla withdrawal. of the stock market.
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With a fortune estimated at more than 180 billion dollars, Elon Musk, 49, overtook Amazon boss Jeff Bezos in early January in Bloomberg’s billionaires ranking, taking advantage of the 2020 surge in stocks. of his company Tesla, which specializes in electric cars and is the darling of investors.