馃攳
Twitter gives Elon Musk a big job - YouTube
Channel: Fox Business
[0]
welcome back well if you had any
[3]
question of how much influence Elon Musk
[5]
is going to have on Twitter we have an
[7]
answer today Twitter announcing Elon
[10]
Musk will join the board of directors
[12]
and Elon Musk is tweeting that he looks
[15]
forward to working with the Twitter team
[17]
and making changes in the coming months
[19]
Cheryl cassoni with all of the details
[21]
that has Twitter stock right now up
[23]
better than six percent Cheryl yeah and
[26]
up 27 yesterday Maria so a couple of
[28]
things here Elon Musk of course making
[30]
that statement saying that he is looking
[31]
forward to working with Twitter at the
[33]
CEO the board to make significant
[35]
improvements to Twitter in the coming
[37]
months now we initially learned this
[39]
news just a few moments ago breaking on
[41]
the wires because of an SEC filing from
[44]
Twitter that he is going to be joining
[46]
the board now right now he's got a 9.2
[49]
percent stake this spot on the board
[51]
that he is taking it makes him a class
[54]
two director that directorship will
[56]
expire at the end of the 2024 annual
[59]
meeting summary but for night for for
[61]
all of this tournament for 90 days after
[63]
musk will not be a quote beneficial
[67]
owner of more than 14.9 percent of the
[70]
company that is key because that
[72]
obviously that limits into what his
[74]
abilities are his exposure is when he is
[76]
serving on the board of directors now as
[78]
for the company right now as you see the
[81]
stock has jumped all of this as we only
[83]
think we'd heard from Elon Musk until a
[85]
few moments ago Maria was a tweet where
[87]
he put a poll up asking do you want an
[89]
edit button we also heard that that the
[92]
the Twitter company uh excuse me the CEO
[94]
just a few moments ago saying quote musk
[97]
is a passionate believer and intense
[99]
critic of the service which is exactly
[102]
what we need on at Twitter that was a
[105]
tweet coming from Twitter and this is
[107]
the Elon Musk tweet that we're
[109]
referencing here Maria do you want an
[110]
edit button yes or no by the way a
[112]
little misspelling on his tweet I got to
[114]
point that out Maria but again this is
[116]
pushing the stock up as of close
[118]
yesterday of business his stake was
[120]
worth about three and a half billion
[122]
dollars Maria but again as you're seeing
[125]
on your screen that stake for Elon Musk
[127]
is now growing exponentially by the
[129]
moment as the stock NOW moves higher
[131]
almost seven percent on this news again
[133]
all of the speculation going into this
[136]
breaking news yesterday and today on
[137]
Twitter and Elon Musk would he in fact
[139]
just flat out by Twitter now the
[142]
question is because of this new filing
[143]
from Twitter uh is he going to be
[146]
limited in making any more moves on the
[148]
company if you're on the board of
[149]
directors are you an activist
[151]
shareholder Maria I'm throwing that out
[153]
to you
[154]
yeah that's right well this is all of
[157]
the speculation since he uh amassed that
[159]
9.2 percent stake uh and it has been
[163]
ripping along trading desks what are his
[165]
intentions what is he going to do
[166]
especially since uh initially he
[169]
criticized Twitter that poll that he
[171]
asked his users 80 million users do you
[174]
think Twitter is practicing Free Speech
[177]
does it follow that principle and 70
[180]
percent of users said no uh Joe Concha
[184]
you followed the media and have been
[186]
spot on on the media let's talk social
[188]
media and how this could change the game
[190]
Elon Musk saying free speech is
[193]
essential to a functioning democracy
[194]
asking his 80 million followers do you
[197]
believe Twitter rigorously adheres to
[198]
this principle then he comes back at
[200]
that and says answer this uh know that
[203]
this is important uh 70 percent said no
[207]
your thoughts on where this is going
[209]
must cannot own more than 14.9 percent
[212]
in this seat on the board will he take
[216]
it all the way up to 14.9 percent
[219]
why not I believe he has the money Maria
[221]
and obviously nine percent 14 you know
[225]
what's a couple of billion between
[226]
friends uh look I I have questions
[229]
obviously when you see something like
[230]
this and I think the biggest one is
[232]
ultimately what are Elon musk's
[235]
intentions here right uh when he's doing
[238]
these polls when he's buying up these
[239]
shares he's now the biggest shareholder
[241]
uh is he looking to acquire the company
[243]
uh will this lead the way for Donald
[246]
Trump to return to Twitter because
[248]
remember uh president Trump started true
[251]
social uh that's falling short at least
[254]
as far as the former president's
[255]
expectations are are concerned to be
[257]
sure uh but either way the question is
[260]
correct does Twitter censor certain
[263]
content that is deemed negative towards
[266]
Democrats or liberals and uh something
[268]
that conservatives obviously have a
[271]
problem with uh of course uh we saw it
[273]
with Hunter Biden we've talked about it
[274]
many times censoring that story right
[276]
before the 2020 election uh making sure
[279]
that it didn't get without locking down
[280]
accounts all these things Elon Musk was
[283]
sitting back and watching and probably
[284]
saying No this is wrong it doesn't
[286]
matter if it's happening to Democrats or
[287]
Republicans and it mostly happens to
[288]
Republicans this sort of censorship
[290]
can't continue anymore and now we'll
[292]
have to see what sort of fundamental
[293]
changes happen as a result of Elon Musk
[296]
being the big Power Player for the
[297]
social media Giant
[306]
with the term expiring at the company's
[308]
2024 annual meeting so 2024 annual
[313]
meeting is is coming and we'll know in
[317]
the coming months what uh Elon musk's
[320]
intentions are here but this was the
[323]
topic of conversation on trading desks
[325]
yesterday in terms of where he's going
[327]
with this and whether or not it's going
[328]
to mean he gets activists like like
[331]
Cheryl just suggested your thoughts Ryan
[334]
yeah I don't think this is an investment
[336]
I mean Twitter's a terrible stock I mean
[338]
it trades at 50 times 55 times forward
[340]
earnings and it's at the same price it
[342]
was in 2014.
[344]
um I I think this is bona fide this is
[346]
just a fight for freedom of speech let's
[348]
be real here we're going to turn Rumble
[349]
uh Twitter into Rumble uh no but in all
[352]
seriousness I I think you know bottom
[353]
line is what I love about mosque is I
[355]
love his flippant attitude I love his uh
[357]
libertarian views and I love the fact he
[359]
loves to push politicians buttons
[361]
everyone's buttons and I think this is
[363]
you know really a fight against cancel
[365]
culture and I think you know cancel
[366]
culture the pendulum's starting to swing
[368]
here we saw that with Joe Rogan that
[370]
really couldn't cancel him when they
[371]
tried to recently on Spotify and now I
[374]
think musk taking over and I think
[376]
absolutely I mean we could see the
[377]
re-platform of our former president
[379]
which would be very symbolic in the
[381]
fight against cancer culture I think
[383]
it's awesome I'm a huge musk fan and I
[385]
do think this is a big win for freedom
[387]
of speech and I do think he's going to
[389]
take a powerful role here in
[391]
transforming into a better free speech
[393]
platform
[395]
yeah I mean this could really as the
[397]
Wall Street Journal is reporting this
[399]
morning set the stage for a new fight
[401]
with the Securities and Exchange
[403]
Commission Ryan you say you love the way
[405]
uh mosca handles himself well he
[408]
disclosed the 9.2 percent Holdings uh in
[411]
a uh in a form uh investors are required
[415]
to file when they buy more than five
[417]
percent of the stock but again we
[419]
learned about it on Twitter uh the
[421]
notice came several days later the the
[423]
journal rights that it also did not
[425]
include a standard certification that
[427]
underscores an Investor's passive stance
[429]
the journal writing about this right now
[432]
that it could uh create even more issues
[435]
in terms of the Securities and Exchange
[437]
Commission all right we'll keep watching
Most Recent Videos:
You can go back to the homepage right here: Homepage