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TECHNOLOGY

Elon Musk buys 9.2% of Twitter, making him the biggest shareholder

Por: 4 de abril de 2022

The South African businessmen owns nearly 73.5 million shares, which could mean changes in the way Twitter works nowadays.

EFE- Tesla founder Elon Musk acquired a 9.2% stake in the Twitter platform, turning him the biggest shareholder.

The billionaire currently owns nearly 73.5 million shares of the messaging company, whose value, according to the valuation of its shares at the close of trading last Friday, amounts to 2.89 billion dollars, several local media reported today.

Musk’s acquisition is known after the entrepreneur criticized the social network in several tweets at the end of March.

On March 25, he proposed a vote among his followers on whether Twitter adhered “rigorously” to the principle of freedom of speech.

70.4 % of the more than two million users who took part in the poll said no.

“The consequences of this poll will be significant. Please vote carefully,” Musk wrote then, before his participation in the social network became known.

A day earlier he had asked, also through the same network, about whether Twitter’s algorithm should be open, to which 82.7% of poll participants answered yes.

Half an hour before the opening of the Wall Street Stock Exchange, Twitter’s share price was 20% above its value at Friday’s close.

Musk has always been very active on Twitter, from where he has shared information about his companies and where he has starred in several controversies, such as his support and rejection of the cryptocurrency dogecoin, which caused dizzying fluctuations.

In November 2021, the entrepreneur polled Twitter users on whether or not to sell 10% of his shares in Tesla.

“A lot of talk lately that unrealized gains are a way to avoid taxes, so I propose to sell 10 % of my Tesla shares. Do you support this?” he asked then, to which 57 % of more than 3.5 million participants said yes.

Following the poll, Musk sold his shares, but numerous media outlets pointed out that this sale was already scheduled by the billionaire, in order to be able to meet a significant tax payment.


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