Elon Musk returns to headlines for use on Twitter, with Shopify Inc. the last beneficiary.
The billionaire of Tesla Inc. posted Thursday afternoon that the e-commerce software company was “fantastic” in response to another user’s comment, and sent Shopify shares up 3.5% in recent operations in New York .
Musk has increased the shares of at least half a dozen companies this month after posting on Twitter, where Tesla’s chief executive has more than 43 million followers. Recipients of Musk promotions include Polish video games manufacturer of CD Projekt SA, a Japanese toy company and online market Etsy Inc.
Tesla did not immediately respond to an email seeking comment.
Musk’s fondness for Twitter previously got him in trouble. He was sued in 2018 by the U.S. Securities and Exchange Commission for publications on a plan to deprive Tesla, which eventually agreed to a agreement that included a $ 20 million fine and the obligation to resign from his role as president.
A 700% increase in Tesla shares last year helps make Musk the richest person in the world, with a fortune in excess of $ 199 billion, according to the Bloomberg Billionaire Index.