Posted on 04/04/2022 4:14:18 AM PDT by LesbianThespianGymnasticMidget
Tesla Inc CEO Elon Musk holds a 9.2% stake in micro-blogging site Twitter Inc, according to a regulatory filing on Monday. Twitter shares rose about 28% in pre-market trading after a 13G filing revealed Elon Musk has taken a 9.2% passive stake in the social media company. Twitter shares were last up 28.49% in at $50.51 in pre-market trading following the news.
The world's richest man bought nearly 73.5 million shares, a document filed with the US Securities and Exchange Commission shows. Musk, a prolific user of Twitter himself, has been critical of the social media platform and its policies of late. He has said the company is undermining democracy by failing to adhere to free speech principles.
Recently, Musk had said in tweets that he is giving serious thought to creating a social media platform because Twitter is “failing to adhere to free speech principle." “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy," Musk tweeted.
(Excerpt) Read more at livemint.com ...
How exactly is owning a 9% share of Twitter stock a “passive” stake? Isn’t there still 91% of Twitter owned by others?
Dang, he’s already doubled his money and he hasn’t even really done anything yet. I hope he dumps all his shares and then buys back at the low. Do that a few times, until the price stabilizes and he knows what the real value of the stock is.
Why do this?
Would be better for him to have launched his own more free Twitter equipment, but then he doesn’t have the time I suppose, since he’s already running two mega companies plus another two or three smaller ones.
Ah well.
Not enough to get any directors elected?
But surely enough to earn him a quick profit for today. Maybe instructed to buy so as to restore the “credibility” and value of our intel agency and others’ investment in the mass influence property?
I don’t understand how this works. If he owned 50.1%, I get it, but not 9%.
For sure a profit. App. 28% today alone.
Yes but does any one individual own 9% or more of of Twitter? I don't know.
Not sure, but I’d think @Jack owns a sizeable chunk.
If Musk gets enough shares he can influence/control voting and fire anti free speech management.
9% so far....and it's probably enough to land him a seat on the Board of Directors.
He needs to take control, then merge with Trump’s new social media company.
Elon Musk becomes Twitter's largest shareholder
Per Bloomberg data, Musk's 9.2 per cent Twitter stake would make him the largest shareholder in the company. Notably it's more than quadruple the 2.25 per cent position of founder Jack Dorsey.”
https://www.ft.com/content/29b9c884-02d7-4d1c-a4ab-c862242fa76e
Whoa. That’s a surprise. So I guess his 9% can control the Board?
See #14.
Musk now owns more than FOUR times as many Twitter shares as Dorsey.
I am uder the impression it is a 10% threshold for an automatic board seat. This keeps right under the SEC threshold.
immediately sell, take the profit, and then announce he is launching a new platform, and further drive the stock into the ground.
Trump’s company sucks. Why can’t conservatives learn about scaled data hosting?
He can’t control the board with 9% no.
But he can weld some influence as the biggest individual share holder.
Plus some analysts on CNBC this morning think he will buy some more shares. That’s why it’s up 25% this morning.
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