B00M: How Elon Musk Became Twitter's Largest Shareholder | READ DETAILS
TAIYE AKINLOTAN
Apr 05, 2022
B00M: How Elon Musk Became Twitter's Largest Shareholder | READ DETAILS
Elon Musk, the world's richest man, has purchased a 9.2 % in Twitter, making him the company's largest shareholder and as a result, Twitter's shares has soared by 25% in the pre-market trading as at Monday, April 4, 2022.
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According to the US Securities and Exchange Commission, the Tesla entrepreneur and tech expert purchased 73,486,938 Twitter shares on 14 March, valued at $2.89 billion (£2.20 billion) and more than four times Twitter founder Jack Dorsey's 2.25 percent stake.
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Musk, the new largest shareholder of Twitter with over 80 million followers, has stated that he is "seriously considering" developing a new social media site after polling his followers on whether they thought the network fostered free expression.
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"Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle? Is a new platform needed?" He then asked.
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— TAIYE AKINLOTAN