Elon Musk Takes Massive Stake in Twitter Purchasing $2.89 Billion

Posted originally on the conservative tree house on April 4, 2022 | Sundance

Many people are wondering what the purpose and intentions are of Tesla CEO Elon Musk after reports drop that he has purchased over 9% of Twitter stock valued at $2.89 billion.

Last month, Musk asked his followers on the platform for their opinion of Twitter’s position on free speech.  Now many people are wondering if the passive position purchased by Musk will be used to leverage a change in the Big Tech platform.

(CNBC) – Outspoken Tesla CEO Elon Musk purchased a giant stake in Twitter that makes him the largest outside shareholder in the social media stock, not long after criticizing the company for what he said was its failure to uphold the tenets of free speech.

Musk owns 73,486,938 shares of Twitter, which represents a 9.2% passive stake in the company, according to a Securities and Exchange Commission 13G filing released Monday. The stake is worth $2.89 billion, based Twitter’s closing price Friday.

The purchase comes less than two weeks after Musk criticized the company, polling people on Twitter about whether it adheres to free speech principles. “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy,” Musk tweeted. “What should be done?” (read more)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.