Elon Musk bought 9% of Twitter and became a majority shareholder

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The CEO of Tesla and SpaceX, Elon Musk, has become a strong Twitter man. He bought 9.2% of the social network shares, for a total of US $ 2,890 millionand became a majority shareholder, as confirmed by the United States Securities and Exchange Commission.

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After hearing the news, the actions of the bird network increased by more than 25% in premarket.

In this way, Elon Musk became Twitter’s largest shareholder, ahead of the Vanguard group (8.79%) or Morgan Stanley (8.76%).

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In total, Musk bought 73 million Twitter shares, representing approximately 10% of the company. So far, this is unknown what will be Musk’s role in the company.

The purchase of this package of shares was announced a week and a half after Elon Musk asked his millions of Twitter followers if they consider that the social network follows “strictly” the principle that freedom of expression is important for democracy.

Two days after the poll result, in which the majority of his followers voted ‘no’, Musk wondered if a new social network that adhered to this principle was “necessary.”

Twitter is experiencing a period of change. Just four months ago, Jack Dorsey, its founder, stepped down as CEO to hand over responsibility to Parag Agrawal, his former CTO. One of the projects held by the new CEO is decentralize twittercertainly combat censorship and the impact of the algorithm. Just one of Elon Musk’s main complaints about this social networkl, of which he is an active user and has over 80 million followers.

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Source: Clarin

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