Twitter has become more synonymous than ever with Elon Musk, whose ramblings, jokes, and memes have already catapulted him as one of the platform’s most notable members. The Tesla and SpaceX CEO decided to throw some of his ridiculous wealth into the social media platform recently, according to a new regulatory filing that can confirm the world’s richest man now owns a 9.2% stake in Twitter.
The stake appears to have been made in mid-March and is valued at $2.89 billion based on Friday’s market close. Coincidentally (or not), it was just last Friday that Musk hinted at how he wasn’t perfectly happy with Twitter and was considering starting his own social media outfit. Twitter shares soared 29% after investors learned of his purchase.
Free speech is essential to a functioning democracy.
— Elon Musk (@elonmusk) March 25, 2022
Do you believe Twitter rigorously adheres to this principle?
Elon Musk Takes 9.2% Stake in Twitter After Hinting at Shake-Up (Bloomberg)
Elon Musk took a 9.2% stake in Twitter Inc. to become the platform’s biggest shareholder, a week after hinting he might shake up the social media industry.
Twitter shares surged as much as 27% after Musk’s purchase was revealed Monday in a regulatory filing. The gain marked the stock’s biggest intraday increase since its first day of trading following the company’s 2013 initial public offering. The stake is worth about $2.89 billion, based on Friday’s market close.
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.
Discussion (3 replies)
Join Discussion →This could prove interesting. Are we going to see Trump back in tweets because of Musk's focus on free speech? More russian Spam? Other content some consider verboten?
Somehow, I wasn't interested in Twitter in the least before this, and much to my surprise, I find my desire to be interested has gone down. I didn't know there was room to go below zero interest, but apparently there is.
It's scary now how easy it is to get set up on it now. A couple of weeks back when I was researching a story it gave the option to sign in with Google, I wasn't paying attention and a couple of clicks later I was registered. I deleted it the next day when I realized what happened after my email started getting notifications. What you see here is about as far as I go for social media, other than an occasional review on Amazon or BB, Newegg. Just not into it, not enough time.