Elon Musk buys large stake in Twitter
Tesla CEO Elon Musk buys a 9.2% share of Twitter, equivalent to more than 73 million shares.
A regulatory filing published Monday by the Securities and Exchange Commission (SEC) revealed that Elon Musk bought a 9.2% stake in Twitter.
Musk recently hinted on Twitter that he might launch his own social media platform. It all began with a poll on March 25 on whether or not they believed Twitter rigorously applied to free speech principles, adding that the consequences of the poll will be important and asking them to "vote carefully".
More than two million people answered the poll, with slightly more than 70% replying that Twitter did not "rigorously" adhere to free speech.
Musk followed this Tweet after the poll ended with a thread, asking what should be done, then adding "Is a new platform needed?".
Is a new platform needed?— Elon Musk (@elonmusk) March 26, 2022
This stake would make Musk the company's largest shareholder, as Twitter founder Jack Dorsey only holds a 2.25% stake in the company.