- The newest biggest Twitter investor, Elon Musk is polling users on the platform asking if they want an edit button
- The poll has received over 2 million votes with over 70 per cent saying yes and Twitter CEO urging caution
- Musk bought a 9.2 per cent stake in Twitter on Monday, April 4 and the company also teased that it may add the edit button
Twitter’s highest investor, Elon Musk has taken his position on the board of directors of the company.
And he’s already making moves that may bring important changes to the platform.
Late Monday, April 4, 2022, the billionaire businessman polled his followers on the site - again. This time, the business mogul is asking users if they want Twitter to add the elusive edit button to their tweets.
This comes hours after he bought a 9.2 per cent stake in the company which makes him the highest shareholder.
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As of the time of writing, over 2 million users have voted with the majority, 73 per cent, saying yes.
The company’s stock grew by over 4 per cent on the Nasdaq exchange on Tuesday, April 5, 2022, trading at over $50 per share.
“Do you want an edit button?” he asked in the tweet on Monday, CNBC reports.
Twitter CEO, Parag Agrawal asked users to vote carefully as that will have important consequences.
April Fools' Day joke?
On April Fools’ Day, the firm said through its official handle that it was working on an edit button with many asking it was a prank. The company said it can neither confirm nor deny, adding ‘but we may edit our statement later.’
Elon Musk recoups his money spent in becoming Twitter largest shareholder, after making over N6.36trn in a day
Twitter users have been angling for the edit button which will let them fix grammatical faux pas but there are concerns that it could be problematic if a particular tweet has gone viral.
Meta's CTO Andrew Bosworth said that Facebook solved the problem a long time ago by including an indicator algorithm that lets users know that a post has been edited.
Elon Musk’s investment comes days after he threatened to build a Twitter rival which experts believed prompted the platform to sell its stake to him.
Twitter shares soar after Musk takes 9 per cent stake in microblogging site
Legit.ng has reported that days before he acquired a 9.2 per cent state in the social media company, Twitter, Tesla CEO, Elon Musk had threatened to build a new social media company to take on the likes of Facebook and his favourite, Twitter.
Musk had criticised the microblogging site for not adhering to the tenets of free speech. He questioned the company for priding itself as the de facto town square.
He now owns 73,4486,938 shares of the company. Representing a 9.2 per cent share in the company, Securities and Exchange Commission 13G filing says, a report by CNBC says.