The Tesla and SpaceX CEO has previously expressed concerns over free speech in the context of social media.
Key Takeaways
- Elon Musk has sold a 9.2% stake in Twitter.
- Musk fair no longer too lengthy ago posted a pollasking whether or no longer his Twitter followers judge the corporate helps free speech.
- Musk has change into notorious for sharing crypto-connected memes on Twitter.
Elon Musk has taken a 9.2% stake in Twitter. Dogecoin surged on the announcement nevertheless has since retraced.
Elon Musk Buys Into Twitter
After becoming identified as notion to be one of Twitter’s ideal pranksters, Elon Musk has sold a 9.2% stake in the social media platform.
Bloomberg reported that the Tesla and SpaceX CEO had invested around $2.89 billion into the corporate early Monday. Musk’s funding represents a 9.2% stake in the agency, and makes him the ideal shareholder.
The facts comes after Musk posted a Mar. 25 ballot to his 80.2 million Twitter followers asking whether or no longer or no longer the social media app championed free speech. “Free speech is needed to a functioning democracy. Pause you judge that Twitter fastidiously adheres to this notion?” he wrote. “The implications of this pollwill be necessary. Please vote somewhat.” Over 70% of respondents voted no.
Free speech is needed to a functioning democracy.
Pause you judge Twitter fastidiously adheres to this notion?
— Elon Musk (@elonmusk) March 25, 2022
Musk hasn’t been insecure about criticizing Twitter in the previous. When the corporate launched its NFT profile portray feature in January, he criticized the switch as a misallocation of resources that didn’t address the platform’s other factors.
Moreover posting polls and commentary on how one can toughen Twitter, Musk has a reputation for his silly tweets, which generally reference cryptocurrencies take care of Bitcoin, Ethereum, and pointless to say Dogecoin. Throughout 2021, he weak his story to post a series of memes connected to crypto sources, at time inflicting ripples available in the market. The SEC has lengthy scrutinized his Twitter antics, particularly his posts stating Tesla and Dogecoin. Musk is at showcase contesting a 2018 deal he made with the SEC over what he can say about Tesla, accusing the regulator of miconduct.
Shares for the social media giant jumped as data of Musk’s funding surfaced. TWTR is up around 25% at press time after making its ideal one-day soar since 2018. Musk’s accepted crypto asset, Dogecoin, furthermore rallied around 20%, although it later gave abet most of its beneficial properties.
Disclosure: At the time of writing, the author of this part owned BTC, ETH, and a number of alternative other cryptocurrencies.
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