Elon Musk purchases stake in Twitter after slamming its approach to 'fr
From Johnny@21:1/5 to All on Mon Apr 4 10:33:34 2022
By Anders Hagstrom
Published 3 hours ago
Tesla CEO Elon Musk purchased a 9.2% stake in Twitter Inc. according to
a Monday filing from the SEC.
Twitter's shares jumped more than 25% in price following Monday's news.
Musk now controls nearly 73.5 million shares of the company, making him
the largest shareholder, and individual stocks were priced at $49.81 on
Musk's purchase comes roughly a week after the billionaire criticized
Twitter for a lack of commitment to free speech.
"Given that Twitter serves as the de facto public town square, failing
to adhere to free speech principles fundamentally undermines
democracy," Musk tweeted March 26. "What should be done?"
"Is a new platform needed?" he tweeted later.
Musk later tweeted that he was giving "serious thought" to the option
of creating an entirely new platform.