Posted on 04/06/2022 4:28:21 AM PDT by Kaslin
The digital town square is undergoing an unexpected shake-up with Elon Musk taking a nine percent majority stake in Twitter. Ramifications will be felt on both sides of the political divide through the midterm elections and beyond.
In a Monday filing with the U.S. Securities Exchange Commission (SEC), it was reported that Elon Musk has taken a 9.2 percent stake in Twitter with 73.5 million shares in the company. His investment was estimated at roughly $2.89 billion. This makes him the majority shareholder in the company.
Musk is among the richest people in the world. Forbes lists his worth as more than $287 billion. As for size, Twitter’s market capitalization was valued at just over $31 billion the Friday before Musk’s news. A few hours after Musk bought his shares, the company’s market cap rose to over $38 billion. And this is just on the news of his purchase, before any anticipated changes at the company.
For comparison, Meta, the company that owns Facebook, Instagram and other digital platforms, had a market cap of roughly $230 billion at the time of the Elon Musk-Twitter news.
Clearly, Twitter is significantly smaller in financial terms than its Big Tech sibling. But its outsized influence has been a point of contention on both the Left and the Right.
The Digital Town Square
Perhaps nobody illustrated the power of Twitter in recent years more than former President Donald Trump, famous for his tweets that gave him a way to speak directly to the American people without the filter of third-party media. At the same time, his tweets drove the corporate media narrative whether it liked it or not.
(Excerpt) Read more at americanthinker.com ...
What???
majority ??? How about largest?
I’m enjoying this.
That would require this ‘reporter’ to know what he was talking about.
He has now filed a 13 D because he is going to act more like Carl Icahn than Warren Buffett.
There are two interesting things from that 13 G. It was late and he did not include a typical certification that he did not intend to influence company.
I don’t know what to make of it. bad lawyers or just Musk poking SEC in the eye.
And for those that still don’t know how to read a 13g..look at the 13 D...do the math...and you will see he was late with the 13G. Will the SEC go after him for that March 25th tweet. Maybe.
Btw..there is a discrepancy in number of shares owned between the two documents..so it appears he is already taking profit.
When this first came out I thought it was him just going to be a passive trolling investor..thus the 13G
But in reality this was probably a 13d manuever all along.
And he is playing games with the SEC. So now we wait and see what the SEC does about it.
He’ll need 51% ownership in a company composed of Leftists. Until that being the largest shareholder yet a non-leftist means he’s an antagonist to the cause.
But, Twitter + Starlink can circumvent government control of information exchange. So he’s got a good cause.
Pozner makes an interesting point about deference
The reality is that Musk is not a normal minority shareholder. Hedge funds and Musk make up more than 50 percent. The same Hedge funds that may have Tesla stock.
Musk will have a lot of clout. Will be interesting to see if he tries to get rid of the CEO. I really believe Dorsey was forced out behind the scenes..and so can his replacement
I’ll believe it when Trump is reinstated on twatter.
Babylon bee guy says musk asked him if he had been suspended before the poll musk tweeted.. and said he might have to buy twitter
Seeing some tweets theorizing they only put Musk on the board to try to keep him from gaining control of the company via the limit on shares
Heard on wcbm that he is a member of the board or chair, regardless, he has no say on policy because of his appointment, according to the host on wcbm.
9% is what he owns. Not exactly the controlling share.
I heard Blackrock owns 9.3% interest in Twitter. Musk may not have controlling interest, but he has a lot of clout all of a sudden on the board of directors. If he holds to form, he will be preasuring them to let Trump back on the platform if nothing else than to help raise the public’s waning opinion of Twitter back into the realm of appearing fair and balanced.
Everyone is saying this but I have not seen Elon Musk say it. Remains to be seen. Personally, I don’t think so. No evidence to this whatsoever.
Elon M. is the #1 holder of shares...Blackrock is #4:
https://twitter.com/timsteno/status/1510990233814417415?s=20&t=paJfrObbrajlCkJlLo-TqQ
Elon’s move has CRUSHED Trump and his DWAC partners. Stock down 40% in past week. Trump’s social media strategy is as an alternative to “cancel culture.” If he is uncanceled, why use Truth Social?
Jack Dorsey founded the thing. How can he no longer be in the top 10?
@Jack is still at #8...I think he sold a bunch of shares before the Twitter stock price tanked over the last year.
https://www.cnbc.com/quotes/TWTR?qsearchterm=twitter
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