BREAKING: Elon musk buys 9.2% stake of Twitter
Elon Musk, the CEO of Tesla and SpaceX, is on his way to having a share in Twitter, and this time not via his entertaining posts. According to a US Securities and Exchange Commission filing on Monday, the multibillionaire has a 9.2% passive ownership in the microblogging network.
As per filings with the US Securities and Exchange Commission, Musk now holds 73.5 million shares in Twitter, bringing his total passive investment in the firm to $2.9 billion (about Rs 218.99 billion). The world’s richest man Elon Musk is very active on Twitter and has an impressive number of around 80 million followers on the platform.
It seemed that Musk was against Twitter’s policies
On the other hand, Musk has recently been sceptical of the social media platform and its policies. He claims that the company is hurting democracy by not adhering to the values of free speech. In fact, it had been comprehended that Musk was giving thoughts to create his own social media platform. He said in an earlier tweet on March 25 that “free speech is essential to a functioning democracy,” and he questioned if Twitter “rigorously adheres to this principle.”
Free speech is essential to a functioning democracy.
Do you believe Twitter rigorously adheres to this principle?
— Elon Musk (@elonmusk) March 25, 2022
Twitter is under obligation to develop new things more quickly. To persuade sceptics that it was keen on broadening its business, the corporation set lofty revenue and user growth targets. While Twitter has been gradually growing for years, its stock has trailed behind its counterparts in the industry.