Elon musk buys majority stakes in Twitter after people vote ‘no’ on his poll asking if twitter adheres to free speech
Yes, you read it right, Musk now owns 9.2% stake in Twitter Inc.
Tesla and SpaceX founder Elon Musk has reported a passive stake of 9.2 per cent in Twitter Inc as of March 14, 2022, according to a US SEC (Securities and Exchange Commission) filing.
Twitter Inc. in the filing said Musk owns 73,486,938 shares of common stock in his personal capacity. Following this update, Twitter Inc shares jumped 25.8 per cent to $49.48 pre-market trade.
Musk, 50, polled his more than 80 million followers on Twitter last month, asking them whether the company adheres to the principles of free speech. After more than 70% said no, he asked whether a new platform was needed and said he was giving serious thought to starting his own.
Musk, a prolific user of Twitter himself, has been critical of the social media platform and its policies of late.
Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy,” Musk tweeted the following day, before publicly asking whether a “new platform” is needed. Given that Musk purchased his stake in Twitter on March 14th, it appears as though these comments came after his decision to buy a stake.
Earlier in the month, Musk said he was a “free speech absolutist” after he claimed Starlink had been told by some governments to block access to Russian news sources. “We will not do so unless at gunpoint,” he said.
