Billionaire Elon Musk appears to be making his move for Twitter. This comes a week after he floated the idea on Twitter.
Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy.
What should be done? https://t.co/aPS9ycji37
— Elon Musk (@elonmusk) March 26, 2022
According to Fox Business:
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 Monday morning.
Musk’s purchase comes roughly a week after the billionaire criticized Twitter for a lack of commitment to free speech.
We’ll be watching very closely and updating as needed.