Elon Musk Invests In Twitter And Now Owns The Majority Of The Company
Elon Musk, who purchased a 9.2 percent interest in Twitter for an estimated $3 billion, is now the company's largest stakeholder and one of Twitter's major stockholders, with Vanguard Group, BlackRock Fund, and others. Elon Musk holds nearly four times the proportion of Twitter's previous CEO, Jack Dorsey (2.25 percent).
Elon Musk has always been known for his Twitter posts, which have had a huge impact on pop culture and the Bitcoin business. Elon Musk's purchase of a 9.2% passive investment in Twitter boosted Twitter's stock by 26% in pre-market trading, according to Bloomberg, after a 13G filing disclosed Elon Musk had purchased a 9.2% passive stake in the firm.
According to reports, Elon Musk's decision to invest in Twitter was sparked by a poll in which he questioned Twitter's commitment to protecting free expression on the platform. Twitter does not adhere to free speech ideals and Elon considered the creation of a new platform.
He also appears to have some business aspirations. Elon launched another poll on Twitter shortly after it was reported that he had purchased a share in Tesla, asking customers if they wanted the most-requested feature, the 'Edit' button. Twitter recently revealed that they were working on an edit button, and Twitter CEO Parag Agrawal expressed interest in considering the poll's results.