The stake was worth around $2.89 billion, based on the company's closing price Friday.
However, Musk often has used Twitter, where he has more than 80 million followers, to comment on various issues, including stocks and even Twitter itself. As of late, he has posted surveys asking respondents about Twitter’s commitment to free speech and even suggested he was considering starting a rival social media firm of his own.
“Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy,” Musk wrote in one recent post before asking: “What should be done?” When someone suggested launching a rival, the businessman said he was “giving serious thought” to the idea.
Former President Donald Trump was kicked off social media platforms following the Jan. 6, 2021, Capitol riots and has launched his own networking platform, dubbed Truth Social, which positions itself as a conservative-friendly alternative to Twitter & Co. But a waiting list and tech glitches have been among its challenges.
Twitter is now led by CEO Parag Agrawal, who received a compensation package worth more than $30.3 million in 2021, driven by his promotion to the top job, as the social media firm
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk buys 9.2 percent of Twitter amid complaints about free speech‘Is a new platform needed?’ he asked last month.
Read more »
Elon Musk buys 9 percent stake in TwitterThe stock-buying revelation comes as Musk has emerged as one of the loudest and most prominent critics of Twitter’s moderation efforts.
Read more »
Elon Musk buys large stake in TwitterNEW: Elon Musk has bought a 9.2% stake in Twitter, according to a regulatory filing released today. He criticized the company last month for 'failing to adhere to free speech principles.'
Read more »
Elon Musk buys nearly $3 billion stake in TwitterMusk has been raising questions about the ability to communicate freely on Twitter, tweeting last month about free speech and the social media platform.
Read more »
Elon Musk now owns a 9.2 percent stake in Twitter | EngadgetTesla and SpaceX CEO Elon Musk now owns 9.2 percent of Twitter after purchasing $2.89 billion in stock, according to an SEC filing..
Read more »