Elon Musk, the founder of Tesla and SpaceX, will no longer be posting on Twitter ‘for a while’. He announced this on Tuesday, without giving a reason. Musk has nearly 45 million followers on the social network.
Last week, Musk became involved in the concerted action by private investors to boost retailer GameStop stock. With a tweet, Musk helped the price rise. Hours later, he revived the share of Etsy, an online marketplace for handmade products.
It is not the first time that the reports of Musk, recently the wealthiest person on earth, have caused a stir in the financial markets. By talking about bitcoin on social media, he already made the price of that crypto coin rise.
Sometimes his presence on Twitter causes legal problems. In 2018, he had to step down as chairman of Tesla’s board of directors after a collision with the American stock market watchdog.
He had accused him of misleading investors by tweeting about a possible stock market exit of his company.