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+--- Thread: Musk Now Owns 9.2% of Twitter (/Thread-Musk-Now-Owns-9-2-of-Twitter)
Musk Now Owns 9.2% of Twitter - Dismas - 04-06-2022
After being censored a fair amount, it seems Musk decided to purchase 9.2% of Twitter's stock. Hopefully this results in freer speech for the average user.
Quote:Elon Musk has purchased 9.2 percent of Twitter's stock, he revealed in a Securities and Exchange Commission filing on Monday. The Tesla and SpaceX CEO bought 73,486,938 Twitter shares on March 14, the filing said.
Musk's stake was worth $2.89 billion, based on Twitter's closing price on Friday, and "appears to make Mr. Musk Twitter's largest shareholder," The New York Times wrote. Musk's "holding is slightly larger than Vanguard's 8.8 percent at the end of last year, and it dwarfs the 2.3 percent stake of Jack Dorsey, Twitter's former chief executive."
Twitter's stock price was up over 28 percent Monday as of this writing. Based on today's rise, Musk "has made about $1.1 billion on his holding since mid-March," Bloomberg wrote.
Read More: https://arstechnica.com/tech-policy/2022/04/elon-musk-buys-9-of-twitter-stock-as-he-pressures-company-on-free-speech/
RE: Musk Now Owns 9.2% of Twitter - Defeat - 04-06-2022
I thought he was trying to buy it altogether or make his own platform. Either way that's cool
RE: Musk Now Owns 9.2% of Twitter - Dismas - 04-06-2022
(04-06-2022, 11:50 AM)Canadian Moose Wrote: I thought he was trying to buy it altogether or make his own platform. Either way that's cool
Supposedly he's not allowed to purchase a majority share.
RE: Musk Now Owns 9.2% of Twitter - Dismas - 04-12-2022
(04-06-2022, 09:28 PM)Dismas Wrote:(04-06-2022, 11:50 AM)Canadian Moose Wrote: I thought he was trying to buy it altogether or make his own platform. Either way that's cool
Supposedly he's not allowed to purchase a majority share.
Looks like he decided not to join the board, which might lead to him purchasing even more of the company:
https://wccftech.com/elon-musk-refuses-to-become-a-member-of-twitter-board-potentially-paving-the-way-for-a-complete-takeover/
RE: Musk Now Owns 9.2% of Twitter - LeahHodges - 04-14-2022
I've read some info that he refused to be part of the director's board, not sure if it's true though.
RE: Musk Now Owns 9.2% of Twitter - yorinobu - 04-15-2022
(04-14-2022, 05:34 AM)LeahHodges Wrote: I've read some info that he refused to be part of the director's board, not sure if it's true though.
You are correct. My thinking is that he did not want to join the board as it believe it would prevent him from buying a majority control.
RE: Musk Now Owns 9.2% of Twitter - jonathanparker - 04-25-2022
musk i a real genius
i think that the world never have such a person as Elon