Elon Musk Buys 9.2% ($3B Worth) Of Twitter
Written by Rika C on April 5, 2022
Less than two weeks after slamming Twitter over their free speech approach, Elon Musk buys 9.2% of the platform, worth nearly $3 billion–making him the largest shareholder in the company.
The billionaire has now owns 73,486,938 shares of the social networking site, worth a whopping $2.89 billion. As mentioned, the acquisition comes just a week and some days after he criticized how Twitter about adhering to free speech principles. He even threatened to create a new platform! On March 26, the frequent Twitter user polled users, asking, “Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?” Responding to his question, he stated, “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?” Taking action on the problem at hand, Musk bought into the company, and immediately, shares skyrocketed to over 24% as of Monday (Apr. 4).