Billionaire Elon Musk drops billions of dollars on Twitter like a boss and becoming its largest shareholder with a 9.2% stake.
It has been confirmed Elon Musk will be on the board with Twitter. Pro censorship and free speech hater Parag Agrawal
“I’m excited to share that we’re appointing @elonmusk to our board!” Wrote Agrawal in a tweet adding Elon will bring great value to the board.
Musk responded “Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!
The news comes after a series of hints were dropped on twitter by billionaire Tesla founder and CEO Elon Musk asked Twitter “What should be done?” in the fight to defend free speech from Big Tech censorship and suppression.
Is this the beginning of the liberation of Twitter users and the return of Freedom of Speech and expression on on Twitter?
The filing on Monday from the CEO was signed by Musk, dated Monday, April 4. Musk has not made a statement about the stake he holds in the company, according to the Financial Times.
That’s right, Elon Musk dropped a cool $2.9 billion to acquire 73,486,938 shares of Twitter. That is 9.2% of the stack in Twitter making him the largest stake holder with Jack Dorsey behind with just 2.25% of the company.
“We would expect this passive stake as just the start of broader conversations with the Twitter board/management that could ultimately lead to an active stake and a potential more aggressive ownership role of Twitter,” Wedbush analyst Dan Ives wrote in a note.
Musk ran a poll on Twitter asking users if they believe Twitter rigorously adheres to the principle that “free speech is essential to a functioning democracy.”
Just after the poll, Musk stated in March that he was “giving serious though” developing an alternative social media platform to Twitter. In response to another Twitter user’s question about Musk’s plans for a new platform, the Tesla and Space X founder said, “Am giving serious thought to this.”