News that Tesla Inc TSLA CEO Elon Musk took a large stake in Twitter Inc TWTR was one of the biggest headlines of the week. Here’s what Barstool Sports founder Dave Portnoy thinks of the news.
What Happened: It was announced Monday that Elon Musk is the largest shareholder of Twitter, with a 9.2% position that comes from accumulating shares since Jan. 31, 2022.
Barstool Sports founder Dave Portnoy shared his thoughts on the Musk news during an appearance on Fox Business program “Varney & Co” Friday.
“I love it,” Portnoy said. “He’s good for Twitter.”
Portnoy told host Stuart Varney that Musk was mad about some of the things that he himself has been mad about with Twitter before, and a push for more free speech could be a positive.
Portnoy said he’s interested in seeing more free speech on the platform, with Musk having an influential voice.
Related Link: Elon Musk Joins Twitter Board Of Directors: What Investors Should Know
Why It’s Important: Portnoy said he doesn’t always know what Musk’s motives are with business moves and wonders if sometimes they are money related, but had high praise of the leader of Tesla and SpaceX.
“He’s no doubt the best executive,” Portnoy said of Musk. “He’s good for his shareholders.”
Portnoy added fuel to the fire of a potential move to bring former President Donald Trump back to the Twitter platform.
“Love him or hate him,” Portnoy said, while questioning the ban of Trump from the platform.
Some believe that Musk should push to reinstate Trump on Twitter, which could prove to be a costly move for Trump’s own social media platform Truth Social, which is part of the media company founded by Trump going public with Digital World Acquisition Corp DWAC.
Photo: Courtesy of Zach Catanzareti Photo and TED Conference on Flickr
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
