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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO
TechElon Musk

Can Elon Musk really make a Twitter edit button happen?

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
April 5, 2022, 10:16 AM ET
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Less than 24 hours after disclosing his 9.2% stake in Twitter, the CEO of Tesla is already making waves.

Musk’s poll asking if users want an edit button on the social media site was bound to turn heads regardless, but it got a signal boost when Chief Executive Officer Parag Agrawal responded, calling it important and urging users to “vote carefully.”

The consequences of this poll will be important. Please vote carefully. https://t.co/UDJIvznALB

— Parag Agrawal (@paraga) April 5, 2022

That implies the poll by the world’s richest man might actually carry some weight, rather than being just another ambiguous tweet. But it doesn’t mean the results of the poll are binding.

Twitter, after all, has been ambiguous about an edit button for years. Four days ago, on April Fool’s Day, it claimed to be working on one. Last July, it said it would introduce one when “everyone wears a mask.” And it has frequently joked about the commonly requested feature, trolling users.

https://twitter.com/Twitter/status/1509951255388504066
https://twitter.com/twitter/status/1278763679421431809
https://twitter.com/Twitter/status/1462843218446503940
https://twitter.com/Twitter/status/1409910027394158592

Musk is an x factor, though. Just yesterday his stake was described as passive. Today he has discussed significant interface changes, joined the company’s board of directors, and tweeted that he has plans for “significant improvements” in the near future.

Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!

— Elon Musk (@elonmusk) April 5, 2022

Analysts say adding Musk to the board was an acknowledgement by Twitter that Musk is unlikely to stop his buying at 9.2%.

“This was a friendly move by the Twitter board to embrace Musk with open arms as clearly a passive stake is just the start of his involvement in Twitter,” said Daniel Ives of Wedbush Securities in a note to clients. “We believe Musk joining Twitter will lead to a host of strategic initiatives which could include a range of near-term and long-term possibilities out of the gates for the company still struggling in a social media arms race. Now it’s time to get out the popcorn and watch the developments over the coming months.”

Twitter founder Jack Dorsey famously said in 2020 that when it comes to an edit button on Twitter, “we’ll probably never do it,” noting that there were “practical considerations” in adding one.

“You might send a tweet and someone might retweet that and an hour later you might completely change the content of that tweet,” he said. “The person that retweeted the original tweet is now retweeting and rebroadcasting something that is completely different. So that’s something to watch out for.”

Dorsey, though, stepped down as CEO last November. And while he still owns a big stake in the company, his 2.3% is dwarfed by Musk’s share.

That could be moot, though, as Dorsey has tweeted his support for Musk becoming a board member at Twitter.

I’m really happy Elon is joining the Twitter board! He cares deeply about our world and Twitter’s role in it.

Parag and Elon both lead with their hearts, and they will be an incredible team. https://t.co/T4rWEJFAes

— jack (@jack) April 5, 2022

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About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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