Tesla shares worth nearly $4 billion sold by Elon Musk, according to reports

Twitter, the social media giant, has undergone significant changes in recent weeks. The takeover by Elon Musk, the tech entrepreneur and CEO of Tesla, was finalized over a week ago. Since then, Musk has made several bold moves, including firing half of Twitter's 7,500-strong staff as part of an overhaul of the company.

Musk's acquisition of Twitter was not without controversy. Initially, he attempted to back out from the deal after his offer was accepted in April. However, he later revitalized his takeover strategy, citing misinformation about the number of fake "bot" accounts as his reason for terminating the contract.

Jack Dorsey, Twitter's co-founder, tweeted an apology for the expansion of the website, acknowledging that it may have contributed to the issues Musk highlighted.

Musk has stated that content moderation remains a priority for Twitter and he would create a council dedicated to the job. This decision has been met with mixed reactions, with some applauding Musk for his commitment to free speech, while others express concerns about the potential for increased misinformation and hate speech on the platform.

Many top brand names have put their advertisement acquisitions on hold due to Musk's known ridicule for web content controls. This decision could have significant financial implications for Twitter, which has been losing money in recent years.

The decision to take Twitter off the securities market has exposed the company to more debt, a risky choice for a money-losing service. However, Musk argues that this move allows him to make major changes rapidly.

Elon Musk's actions and statements since taking over Twitter have not been without criticism and warnings. The UN rights principal, Volker Turk, has urged Musk to prioritize civil rights on Twitter. The UN has also expressed concerns about Musk's actions as the head of Twitter.

Despite the challenges, Musk remains committed to his vision for Twitter. He has sold 19.5 million shares of Tesla stock worth approximately $3.95 billion, suggesting that he is prepared to invest heavily in the social media platform.

As the situation continues to unfold, it remains to be seen how Musk's changes will impact Twitter's future. One thing is certain: the social media landscape is about to undergo a significant shift.