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THE business press was alive this week with the news that billionaire and ex-South African, Elon Musk bought 9,2 percent of Twitter for a reported US$$2,9 billion based on Friday, April 1’s share price.
Musk bought 73,5 million shares which pushed the Twitter share price up by 27,1 percent to US$45,97 per share.
Musk is a frequent Twitter user with more than 80 million followers and posts “interesting” statements on Twitter from time to time.
We, at Global & Local Asset Management, believe that Musk should have asked himself this very important question before purchasing this block of Twitter shares: — Bloomberg.
Online Reporter