It’s one of the biggest news in the business and social media world of 2022: Elon Musk bought a 9.2% stake in Twitter.
This is confirmed by various US financial media, such as Bloomberg.
The owner of Tesla thus becomes the largest shareholder of the network co-founded and directed by Jack Dorsey.
The novelty is surprising because Musk has harshly criticized the social network in recent months for not defending the principles of freedom of expression.
Musk owns 73,486,938 shares of Twitter, representing a passive 9.2% stake in the company, according to Securities and Exchange Commission document 13G. Here the official document.
The stake is worth $2.88 billion, according to Twitter closing values on Friday, April 1, 2022.
In this way, Musk has become the largest shareholder of the little blue bird’s social network, ahead of the Vanguard group (8.78 percent) and Morgan Stanley (8.75 percent).
For now (the news is very recent), it is not known what role Musk will have in the company, since the purchase is not related to a specific function.
In fact, it can act as just another outside investor.
The acquisition of shares of Twitter by Elon Muck occurs a few days after the CEO of Tesla said in his account this same network that he was planning to “create his own Twitter”.
Elon Musk’s love-hate relationship with Twitter
Musk is a very regular user on Twitter and most of his posts generate controversy.
In fact, Twitter is part of your marketing strategy around your person.
But that hasn’t stopped him from criticizing Jack Dorsey’s social network and its policies regarding what content is and isn’t allowed. And in relation to the algorithm and the preference of some tweets over others.
According to Musk, Twitter is undermining democracy by not adhering to the principles of free speech.
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