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Elon Musk becomes largest shareholder on Twitter

2022-04-04 17:08:41Lifestyle SHKRUAR NGA REDAKSIA VOX

Elon Musk becomes largest shareholder on Twitter

Elon Musk has taken a 9.2 percent stake in Twitter, according to a file of valuable letters in the U.S. The news caused Twitter shares to rise about 25 percent on the stock exchange.

The Founder of Nasa bought 73,486,938 Twitter shares on March 14, according to the Value and Exchange Letters Commission. The stock is worth $2.89 billion, based on the closing price of the Twitter stock exchange on Friday.

The shares make him one of the largest shareholders in the company and is more than four times more than 2.25 percent of twitter founder Jack Dorsey's possession.

Musk is a regular Twitter user with more than 80 million followers, although he recently said he is seriously thinking about building a new social media platform.

Late last month Musk asked his followers if they thought the social media platform supports free speech.

"Free speech is essential for a functional democracy. Do you believe that Twitter rigorously adheres to this principle?"

He then asked, "Does a new platform be needed?"

He regularly uses Twitter to share update from companies he owns – including SpaceX and Neuralink. He is also known for sharing memes, adding to his popularity among fans.

But some posts have caused controversy.

Last year he posted on Twitter in response to a claim made by the head of the UN World Food Programme (WFP), that only 2 percent of Musk's wealth can help solve the world's hunger.

In October, Musk said he would sell $6 billion in Nasa shares and donate them to WFP, provided he described "exactly how $6 billion will solve hunger in the world."


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