Elon Musk Has Taken a 9.2% Stake in Twitter

458

According to a US securities filing, Elon Musk becomes Twitter’s biggest shareholder. It report indicates that Elon Musk is now the owner of the 9.2% stake in Twitter which is four times greater than the holding of Twitter founder Jack Dorsey.

Credit: foxbusiness

According to the Securities and Exchange Commission, Tesla’s chief executive Elon Musk has owned 73,486,938 shares of this social media platform. The stake is worth $2.89bn according to Twitter’s closing price which indicated that Elon Musk is now the largest shareholder in the company.

Credit: cnbc

Recently he shared that he is in “serious thought” of developing a new social media platform. Last month Mr. Musk asked his followers about the effectiveness of social media on free speech. He wrote, “Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?” He also asked: “Is a new platform needed?”

Credit: apnews

Elon Musk is a regular user of Twitter. He has more than 80 million followers. He is famous for sharing memes. He regularly shares updates of his companies’ performance and activities including SpaceX and Neuralink. However, some of his posts have created controversy like posts related to the UN World Food Programme (WFP).