Twitter's Top Shareholder Elon Musk Asks, 'Is Twitter Dying?'

Twitter Inc.'s TWTR top shareholder and recently-added board member Elon Musk suggested that the company's social media platform may be "dying."

What Happened: In a Saturday tweet, Musk wrote that most top Twitter accounts "tweet rarely and post very little content." He then asked: "Is Twitter dying?"

The tweet follows Musk recently becoming Twitter's top shareholder after acquiring a 9.1% share in the company. Musk is also working to have the social media giant implement an edit button. The company welcomed him to its board earlier this week, and Musk has continued his well-known tradition of making controversial statements about publicly traded firms with which he is personally involved.

Also Read: Tesla CEO Elon Musk Is Now $100B Richer Than Jeff Bezos: Here's How Much He's Worth

A good example of this behavior would be the time when in 2018 he tweeted that he would take his electric vehicle manufacturing company Tesla Inc. TSLA private and that he had already secured the funding to do so — leading to major volatility in the company's stock price. Last month, company shareholders who claim that they have lost billions of dollars because of this tweet initiated a lawsuit against him.

Musk has also had his fair share of run-ins with the Securities and Exchange Commission over issues such as the aforementioned tweet, potentially violating federal law when reporting his 9.1% Twitter stake, tweeting about TSLA's price being too high and tweeting about selling 10% of his Tesla share just before his brother sold his stake. 

Photo: Courtesy of OnInnovation on Flickr