Tesla CEO Elon Musk, who has expressed concern over protecting freedom of speech in the 'de facto public town square' of Twitter, has become the social media platform's largest shareholder:
Tesla CEO Elon Musk, who has expressed concern over protecting freedom of speech in the "de facto public town square" of Twitter, disclosed on Monday a large stake in the social media company, sending shares soaring.Mr Musk, who has more than 80 million followers on the micro-blogging platform, became its largest shareholder following the purchase of 73.5 million shares or 9.2 per cent of common stock, according to a securities filing.
"We would expect this passive stake as just the start of broader conversations with the Twitter board management that could ultimately lead to an active stake and a more aggressive ownership role of Twitter," analysts Daniel Ives and John Katsingris of Wedbush wrote in a note.Disclosure of Mr Musk's stake follows a recent poll launched by the billionaire to his followers.
United States political conservatives have long complained that the platform censors right-wing voices, an assertion the company denies. Twitter has also at times punished Representative Marjorie Taylor Greene, a far-right Georgia congresswoman who has repeatedly posted misinformation about COVID-19 and vaccines against it.
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