Elon Musk now owns 9.2 percent of Twitter
The purchase was worth nearly $3 billion.
UPDATE 4/25/2022 4:13 PM ET: Elon Musk is officially buying Twitter. Twitter “has entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk.” The transaction is valued at nearly $44 billion. The original story follows below.
That’s interesting in light of Musk’s recent musings about Twitter, on Twitter, but the more interesting part? He finalized the stock purchase before he decided to run a poll about free speech on Twitter.
The filing was released by the Securities and Exchange Commission (SEC) on Monday. That’s two weeks after Musk asked his Twitter followers to vote on whether Twitter adheres to the principle of free speech or not. His followers didn’t think so, with 70.4-percent saying ‘No’.
The timing of that poll, which was two weeks after the 13G filing required by the SEC, now seems to be in bad faith and typical Elon shitposting.
It seems that Musk himself doesn’t think “a new platform [is] needed?“, just for him to have a hand in deciding things on the existing one.
That stake, which is held by Musk’s Trust, is worth a whopping $2.89 billion, based on Friday’s closing price of Twitter’s stock. His holdings are what’s known as a passive stake, which means this is a long-term investment for Musk.
He also had to settle with the SEC in 2018 for his tweets, which ended up with him no longer being Tesla’s chairman.
- Elon Musk wants to bring Steam’s entire game library to Teslas
- Twitter finally lets you search DMs for keywords
- A bug in Facebook’s system led to a surge of misinformation
- Elon Musk donated $5.7 billion in Tesla stock to charities last year
- Twitter is finally adding the ability to copy specific text on Android