Elon Musk stands by his controversial tweets, even if it means losing potential Tesla Inc. TSLA buyers and Twitter advertisers.
What Happened: While speaking with CNBC’s David Faber during Tesla’s annual shareholder meeting, Musk justified his controversial tweets, saying that he has the right to express his opinions, even if they come at a financial cost.
“I’ll say what I want to say, and if the consequences are losing money, so be it.”
See Also: Elon Musk’s AI Concerns Likely Just Smoke Screen To Hide His True Intentions, Says Prominent VC
During the interview, Musk seemed to detach momentarily when questioned about the value of his tweets. After an extended and awkward silence, Musk said a quote from “The Princess Bride” to explain his disregard for the consequences of his statements on the social media platform.
He referred to a scene where Inigo Montoya’s character confronts his father’s killer saying, “Offer me money, offer me power. I don’t care.”
For the unversed, Musk’s tweets have been a topic of controversy for years, with some of his statements being labeled as discriminatory. He has also been known to tweet conspiracy theories.
The tech billionaire is facing renewed backlash for a recent tweet that compared Democratic donor George Soros to Magneto — a Jewish Holocaust survivor and “X-Men” villain.
As CEO of a publicly traded company, Musk faces certain limitations on what he can express on Twitter or other platforms. Suppose he were to share misleading information about Tesla. In that case, shareholders have the right to take legal action against him, as demonstrated when they filed a lawsuit following his tweet about considering taking the company private at $420 per share.
Why It’s Important: Since Musk acquired Twitter for $44 billion last year, the microblogging site has witnessed a significant decline in advertising revenue as brands and companies evaluated the platform’s modification and voiced concerns about its outspoken new owner.
To revitalize Twitter’s advertising sector, Musk appointed former NBCUniversal advertising chief Linda Yaccarino as the new CEO.
Photo: Courtesy of Wikimedia Commons
Check out more of Benzinga’s Consumer Tech coverage by following this link.
Read Next: Elon Musk Credits Himself For ChatGPT-Parent’s Success: ‘I Am The Reason OpenAI Exists’
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
