As top shareholder, billionaire will have too much influence, critics say
Closeup of Elon Musk's Twitter profile in 2018: Picture: FM0704FX ELON
“Now that @ElonMusk is Twitter’s largest shareholder, it’s time to lift the political censorship. Oh… and BRING BACK TRUMP!,” Republican Congresswoman Lauren Boebert tweeted on Monday. In the wake of Trump’s ban from Facebook and Twitter, the billionaire tweeted that many people would be unhappy with US tech companies acting “as the de facto arbiter of free speech”.
“Twitter is committed to impartiality in the development and enforcement of its policies and rules,” the spokesperson said. Twitter’s board figures prominently in discussions within Twitter, more so than at other tech companies, one employee said. That is because unlike Meta Platforms, where founder and CEO Mark Zuckerberg controls the company through a dual class share structure, Twitter only has a single class of shares, making it more vulnerable to activists such as Musk. Teams in Twitter often consider how to communicate a strategy or decision to the board, for instance, the employee said.
“If Donald Trump was actually rich, he would have liked to have done the same thing but he couldn’t afford it. So Elon is doing what Trump would have liked to have done,” said Guidehouse Insights analyst Sam Abuelsamid.
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