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Tesla’s Elon Musk is Twitter’s Biggest Stakeholder: They Should be Thrilled He is About to Walk Away

Written by:
Aaron Goldstein
Published on:
Dec/19/2022

The oddsmakers at BetOnline have offered Twitter odds over this past year in light of Elon Musk buying the social media platform.  Now he is set to step down as its CEO?

That's a question mark.  Musk posted a poll asking if he should give up his role and assured he would abide by the results.

More than 17.5 million votes were cast in the poll, with 57.5% in favor of the Twitter CEO stepping down, while 42.5% of votes were against the move.  He appeared to acknowledge the results.

Who stands to benefit most from Musk potentially stepping down?

That would be Tesla shareholders.

On Thursday December 15, Tesla closed up despite Musk selling $3.58B of its shares.

Musk sold the Tesla shares from Monday through Wednesday, based on a filing posted Wednesday night with the U.S. Securities and Exchange Commission.

Musk has sold nearly $23 billion worth of Tesla stock since April, with much of the money likely going to help fund his $44 billion acquisition of Twitter. Early last month, he sold nearly $4 billion worth of Tesla shares, according to regulatory filings.

The sale comes as shares of the electric vehicle and solar panel maker have collapsed, losing over half their value since Musk first disclosed in April that he was buying up Twitter stock.

- Aaron Goldstein, Gambling911.com  (The Associated Press was used for this article)

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