Elon Musk Buys $3 Billion Stake in Twitter



Elon Musk Buys $3 Billion Stake in Twitter


Tesla CEO Elon Musk has bought a $2.89 billion stake in Twitter, making him the largest outside shareholder in the social media firm, not long after criticising the company for failing to uphold the tenets of free speech.

Musk now owns 73,486,938 shares of Twitter, which represents a 9.2% passive stake in the company, according to the Securities and Exchange Commission filing released this morning. The stake is worth $2.89 billion, based on Twitter’s closing price on Friday. The stock has shot up some 25% in pre-market trading…

This comes less than two weeks after Musk criticised the company, polling people on Twitter about whether Twitter 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?” Guido for one welcomes Musk’s intervention, if he can stop Twitter’s increasingly woke censorship tendency…

UPDATE:  This graphic taken from a Bloomberg article about his tweeting shows how active he is on the platform:

He’s a prolific tweeter!

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