Elon Musk is now Twitter’s largest shareholder, after buying a 9.2 per cent stake in the social media behemoth.
Twitter published a note confirming the purchase, with the entrepreneur paying around A$3.84 billion for the stock, which has since leaped 23 per cent above its Friday closing price.
Interestingly, Musk actually purchased the 73,486,938 shares of common stock on March 14, meaning his Twitter blast on March 25 in which he claimed to be “giving serious thought” to building a social media platform to compete was hot air.
“Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy,” he wrote.
“What should be done? Is a new platform needed.”
Free speech is essential to a functioning democracy.
Do you believe Twitter rigorously adheres to this principle?
— Elon Musk (@elonmusk) March 25, 2022
Now that Musk controls close to 10 per cent of Twitter, maybe he will be making some changes in light of those polling figures.
