Elon Musk has reportedly bought up shares of the well-known social media platform, Twitter. He purchased 73,486,938 shares on March 14, 2022, according to documents from the 13G Securities and Exchange Commission. This figure is equivalent to $2.89 billion.
This is only 9.2 percent of the overall stock of Twitter. But this makes it the largest shareholder of Twitter today. Even beat former Twitter CEO Jack Dorsey who only holds Twitter shares by 2.25%.
Elon Musk’s goal of buying Twitter shares seems to be related to free speech on social media platforms. He seems annoyed that his tweets are often the object of investigation by US regulators.
After buying up Twitter stock, Elon Musk tweeted, “Given that Twitter functions as a de facto public city square, failure to adhere to the principles of free speech are fundamentally undermining democracy,” Elon Musk said on Twitter. He even made a pretty exciting question, is it necessary to create a new social media platform?
But on the other hand, after the Twitter shares were bought up by Elon Musk, now the value of Twitter shares has soared. On Monday, April 4, 2022, Twitter’s shares reached 47.93 USD or around Rp. 689,864.
The previous week, April 1, 2022, Twitter’s stock was still at $39.3. This increase has reached 27% and is expected to continue to increase.
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