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Could Musk’s boycott of Twitter board drive market volatility?

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Elon Musk is the largest shareholder in Twitter, so what power does he have?

Analysts say Billionaire Elon Musk’s reversal of his decision to join the Twitter board is likely to drive volatility in the stock.

Last week Musk and Twitter said he would be joining Twitter’s board after revealing the Tesla CEO has a 9.2% stake in the social media platform.

Twitter shares fell on the news of Musk’s reversal during premarket trading, but rose by 2 per cent by Monday morning.

In case you missed it, Elon Musk went on a tweetstorm over the weekend.

He proposed no ads, slashing the price of twitter’s premium service and pay via crypto.

But the Tesla and SpaceX CEO appears to have deleted several tweets after dropping the plan to be on the firm’s board.

Many analysts now wonder if Musk will pursue a hostile takeover of Twitter, without the constraints he would have had on the size of his stake in the company.

Musk’s decision not to join Twitter’s board means he’s no longer limited to owning just 14.9% of the company.

Some say this could bolster his stake and eventually try and establish control.

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Tesla shareholders approve historic $56B Elon Musk pay package

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Tesla shareholders have voted to approve Elon Musk’s unprecedented $56 billion compensation package, underscoring their confidence in his leadership and vision for the electric car company.

The package, which is tied to ambitious performance targets, includes a mix of stock options and bonuses contingent upon Tesla’s financial and operational milestones over the next decade.

As reported by Reuters, the approval underscores the support that Musk enjoys from Tesla’s retail investor base, many of whom are vocal fans of the mercurial billionaire.

The proposal passed despite opposition from some large institutional investors and proxy firms.

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Money

Rich listers secret’s: how billionaires build their wealth

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Australian billionaires, including Gina Rinehart, have built their wealth by investing in valuable, income-generating assets.

For the average person looking to build their wealth, one possible option could be to buy quality assets like stocks when the market dips.

Mark Wyld from MW Wealth joins to discuss. #featured #trending #wyld money

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Buyer’s agent unveils key to building wealth through property

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Unveiling the strategies for game-changing wealth building through property.

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Buyers Agent, Jack Henderson from Henderson Advocates. #trending #wyld money

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