Elon Musk Buys Stake In Twitter, Becomes Largest Shareholder
The billionaire now holds a 9.2% stake in the micro-blogging platform.
Twitter’s share price jumped 26% in pre-market trading on Monday after a Securities and Exchange Commission (SEC) filing revealed that Tesla CEO Elon Musk has taken a 9.2% passive stake in the social media company.
The stake is worth $2.89 billion, based on Twitter’s closing price on Friday. The filing shows that Musk made the purchase on March 14 and he now owns 73,486,938 shares.
The move could eventually could lead to a buyout if Musk tries to take a more aggressive stance.
THANK YOU FOR HELPING TO SAVE WESTERN CIVILIZATION, YOU AFRICAN-AMERICAN HERO!
— Lavern Spicer🇺🇸🇺🇸🇺🇸 (@lavern_spicer) April 4, 2022
A frequent user of the platform, Elon Musk has more than 80 million Twitter followers. Last week, the billionaire revealed he was thinking about creating a social media platform because Twitter is “failing to adhere to free speech principle.”
Twitter bans Babylon Bee.
Elon Musk is a huge fan of BB.
Musk buys majority share of Twitter stock.BB should be back on Twitter shortly.
This is the way.— Norm Lenhart – "To draw is human. To Edit, Divine" (@LordWordfab) April 4, 2022
Users this morning have been urging him to press for the reinstatement of the Twitter-suspended @BabylonBee account, one of Musk’s favorites, as well as that of accounts of banned conservatives and Pres. Donald Trump.
Trump can't tweet.
But the Kremlin can.The Babylon Bee can't tweet.
But the Chinese Communist Party can.Members of Congress can't tweet.
But the Ayatollah & Taliban can.They only target conservatives—and don't even try to hide it anymore.
We must hold Big Tech accountable.
— Steve Scalise (@SteveScalise) March 28, 2022
As Steve Scalise pointed out in a March 28 tweet:
Trump can’t tweet.
But the Kremlin can.
The Babylon Bee can’t tweet.
But the Chinese Communist Party can.
Members of Congress can’t tweet.
But the Ayatollah & Taliban can.
For comparison to Elon Musk’s 9.2% stake, Jack Dorsey reportedly has only a 2.25% stake in the company he founded.
The consequences of this poll will be important. Please vote carefully.
— Elon Musk (@elonmusk) March 25, 2022
On March 25, Musk ran the above poll on Twitter.
Rivals will never be able to compete effectively. Buy it and run it with actual public forum and free speech principles. Preserve genuine debate and the right to disagree.
— Jenna Ellis (@JennaEllisEsq) March 26, 2022