“Off Twitter for a while,” the founder of the electric vehicle manufacturer Tesla and the space company SpaceX announced to his 44.5 million followers on the platform, without explaining his decision.
The technology sector entrepreneur Elon Musk said this Tuesday that he will stop using Twitter “for a while”after his publications on the social network fueled the hysteria that the stock market experienced in recent days, with unexpected rises in the shares of several companies.
“Off Twitter for a while,” announced the founder of the electric vehicle manufacturer Tesla and the space company SpaceX to his 44.5 million followers on the platform, without explaining their decision.
Last week, Musk showed his support on Twitter for investors on the website Reddit who had coordinated to buy shares of Gamestop, a struggling video game store, whose shares rose by more than 680%, according to CNN.
A post, hours later, about his love for the e-commerce company Etsy grew the company’s shares by 8%, according to CNBC.
Those weren’t the only times Musk shook up the markets in recent weeks. When he changed his Twitter profile to simply say “#bitcoin” last Friday, the cryptocurrency skyrocketed by about 20%.
His presence on Twitter caused him legal problems in the past. In 2018, Musk had to step down as chairman of Tesla’s board of directors after a clash with the US Securities and Exchange Commission, which lor accused of having misled investors by tweeting about a possible withdrawal of Tesla from the stock markets.
Musk became the richest person in the world last month, with an estimated fortune of 185 billion dollarsfollowing the sharp rise in Tesla shares. He surpassed Amazon CEO Jeff Bezos.