What can we say about this man Elon Musk. He is creating sensation with every step of action he is taking. Elon Musk is now the largest stake holder of Twitter. He now owns a 9.2% of total shares at Twitter. According to the filing he purchased these stocks on March 14th. The founder of Twitter Jack Dorsey has only 2.25% of stakes of Twitter.
As soon as the regulatory filing was released the share prices of Twitter rose up 25% in premarket trading. Elon Musk’s shares have a value of $2.89 billion with a total number of 73,486,938 shares. Although he is the largest stake holder his stakes are mentioned as passive shares. This means he is not interested in being a part of actively running the company. Some analysts say that the purchase will lead to some sort of buyout.
Musk after buying the shares of the company did conduct a poll on Tweeter. The poll had a question “Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?”. He even did later added to the Tweet mentioning to vote carefully as the consequences of the poll will be important. The poll has got a 70.4% of votes against No and only 29.6% as Yes.
Free speech is essential to a functioning democracy.
Do you believe Twitter rigorously adheres to this principle?
— Elon Musk (@elonmusk) March 25, 2022
Elon Musk even did ask if we need a new platform as Twitter is failing to adhere the speech principles. You can go through the 13G filing that was released today by Bloomberg News.
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