Tesla CEO Elon Musk is now holding a 9.2% passive stake in Twitter. Passive stake means Elon would not take an active part in running the company and its operations. This makes him the biggest stakeholder on Twitter. Jack Dorsey holds a merely 2.25% stake in Twitter.
Elon Musk buys 9.2% stake in Twitter
Elon Musk’s holding of a total of 73,486,938 shares makes him the biggest stakeholder with 9.2% in the company. As of Friday when the market closed, Musk bought the stake at almost $2.86 billion. When the regulatory statement was released, Twitter’s share pricing also went up.
Notably, Elon Musk also tweeted a poll last week asking his Twitter followers if Twitter adheres to free speech principles or not! 70.4% of voters voted for the option “No” in that poll.
Free speech is essential to a functioning democracy.
Do you believe Twitter rigorously adheres to this principle?
— Elon Musk (@elonmusk) March 25, 2022
Elon had also asked his followers on the platform if a new platform is needed. Twitter’s share also performs some amazing ups and down from time to time, it will be amazing to see Elon Musk taking Twitter’s stake.
Little update:
The Twitter team is also working on getting the ‘edit’ button for the Twitter Blue members. In a recent tweet from the Twitter Comms account, they confirmed the same.
https://twitter.com/TwitterComms/status/1511456430024364037?s=20&t=UN0OR_537km9Pm3b_4bgCg
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