Elon Musk’s Newest Venture: Tesla CEO Becomes Twitter’s Largest Stakeholder
Posted On April 4, 2022
This article contains commentary which reflects the author's opinion
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Elon Musk Becomes Twitter’s Largest Shareholder
Elon Musk, the CEO of Tesla, has purchased a 9.2 percent interest in Twitter, making him the social media platform’s largest stakeholder.
“Musk owns 73.5 million Twitter shares, valuing his passive stake in the company at up to $2.9 billion based on the stock’s Friday close. The shares are held by the Elon Musk Revocable Trust,” Newsmax reported.
“Musk, a prolific user of Twitter, has over 80 million followers on the site since joining in 2009 and has used the platform to make several announcements, including teasing a go-private deal for Tesla that landed him in regulatory scrutiny. He, however, has been critical of the social media platform and its policies of late and has said the company is undermining democracy by failing to adhere to free speech principles,” the report continued.
The move comes after Musk polled his followers on whether they thought Twitter was doing a good job. 70 percent of respondents said they didn’t think Twitter protected free speech.
Calls for Musk to demand Twitter reinstate Donald Trump started immediately after the news broke.
Rebecca Horvath is an editor and writer for NRN. For nearly a decade, Horvath wrote a regular Community Voices column for the Johnson City Press, where she was known to ruffle a few feathers. In 2018, she began writing for the National Federation of Republican Women, interviewing and profiling candidates such as Sen. Martha McSally and Sen. Cindy Hyde-Smith. Horvath also contributes to Net3d.home.blog.