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Elon Musk bought a huge stake in Twitter

CEO of Tesla, Elon Muskacquired a large share in Twitterpaving the way for potential turbulence due to the social media platform’s position on freedom of speech.

The billionaire has acquired 9.2% of the company, which is worth nearly $ 3 billion (2.3 billion pounds), according to a statement to the US Securities and Exchange Commission.

“Oh hello, lol,” was his only tweet since the announcement, which resulted in Twitter shares rising more than 25 percent.

Mr. Musk is one of Twitter’s most popular users, with more than 80 million subscribers. He is also particularly prolific, using his account to share memes as well as update his life and his campaigns.

However, these tweets have in the past caused problems for Mr Mask. In 2018, for example, he tweeted that Tesla would become private – starting the period when he was being investigated by the SEC, as well as the loss of the chairmanship of the company.

In recent weeks, Mr Musk has used his account to post about Twitter itself and the rules that govern it.

On March 24, he tweeted that he was “concerned about the actual bias in the” Twitter algorithm “, which has a serious impact on public discourse,” and shared a poll in which he asked his followers to vote on whether the algorithm should be open source.

A day later, he tweeted that “freedom of speech is important for a functioning democracy,” and asked his followers whether they believed “Twitter strictly adheres to this principle.” After 70.4% of respondents voted wrong, he asked followers, “What should I do?”

Mr Musk bought his shares of Twitter before the reports – documents to the SEC show the purchase took place on March 14 – although they were only revealed today.

Elon Musk bought a huge stake in Twitter

Source link Elon Musk bought a huge stake in Twitter

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