Tesla CEO and Billionaire Elon Musk has taken a 9.2% State in Twitter Inc which means he is now the platforms biggest shareholder.
Musk made the move about a week after criticizing the social media platform for stifling free speech and said he was giving some serious though into created a new platform that would compete with twitter.
Musk also posted a poll to his 80 million followers on twitter last month asking them whether or not the company adheres to free speech. More than 70% said no.
“Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?” Musk tweeted in a Twitter poll.
The next day, Musk posted: “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?”
One user asked the Tesla CEO about possibly “building a new social media platform” that would boast “an open-source algorithm.”
Twitter shares jumped as much as 26% after Musk’s purchase was revealed in a regulator filing.
The stake is work nearly $3 billion.
(https://www.bloomberg.com/news/articles/2022-04-04/musk-takes-9-2-stake-in-twitter-after-questioning-platform more info)
