<![CDATA[Elon Musk Becomes Twitter's Largest Shareholder]]> https://usagag.com/2022/04/04/elon-musk-becomes-twitters-largest-shareholder/ Mon, 04 Apr 2022 16:26:00 +0000 hourly 1 https://usagag.com Elon Musk Becomes Twitter's Largest Shareholder According to the filing, Musk purchased approximately 73.5 million shares, making him the largest stakeholder.

Musk has questioned if Twitter "rigorously adheres to" the "free speech" premise. Musk conducted a poll on Twitter, and 70.4 percent of those who responded claimed that Twitter does not.

“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?” Musk then tweeted.

Musk also stated that he was "giving serious thought" to building a new platform that would allow for "free speech."

According to the AP, the investment is considered passive.

According to the Associated Press, Dan Ives of Wedbush Securities said in a client note Monday that the passive stake is likely "just the start of a broader [conversation] with the Twitter board/management that could eventually lead to an active stake and a potentially more aggressive ownership role of Twitter."

Following the announcement, Twitter shares increased by more than 20%.

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