{"id":5753,"date":"2022-04-05T11:07:53","date_gmt":"2022-04-05T11:07:53","guid":{"rendered":"https:\/\/www.africa-press.net\/angola\/all-news\/elon-musk-becomes-twitters-biggest-shareholder"},"modified":"2022-04-05T17:36:58","modified_gmt":"2022-04-05T17:36:58","slug":"elon-musk-becomes-twitters-biggest-shareholder","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/angola\/all-news\/elon-musk-becomes-twitters-biggest-shareholder","title":{"rendered":"Elon Musk becomes Twitter’s biggest shareholder"},"content":{"rendered":"

Africa-Press – Angola. <\/strong><\/span>Elon Musk has taken a 9.2% stake in Twitter, according to a US securities filing.<\/b><\/p>\n

The announcement sent Twitter shares soaring by more than 27% in New York trading on Monday.<\/p>\n

Tesla’s chief executive owned 73,486,938 shares in the social media platform as of 14 March, according to the Securities and Exchange Commission.<\/p>\n

The stake is worth $2.89bn (\u00a32.2bn), based on Twitter’s closing price on Friday.<\/p>\n

It makes him the largest shareholder in the company, with more than four times the 2.25% holding of Twitter founder Jack Dorsey.<\/p>\n

Mr Musk is a regular Twitter user with more than 80 million followers, although recently he said he is giving “serious thought” to building a new social media platform.<\/p>\n

Late last month, Mr Musk asked his followers whether they thought the social media platform encouraged free speech.<\/p>\n

“Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?”<\/p>\n

He then asked: “Is a new platform needed?”<\/p>\n

Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy.<\/p>\n

What should be done? https:\/\/t.co\/aPS9ycji37<\/p>\n

He regularly uses Twitter to share updates from the companies he owns – including SpaceX and Neuralink. He is also known for sharing memes, adding to his popularity among fans.<\/p>\n

But some posts have drawn controversy.<\/p>\n

Last year he tweeted in response to a claim, made by the head of the UN World Food Programme (WFP), that just 2% of Mr Musk’s wealth could help to solve world hunger.<\/p>\n

In October, Mr Musk said he would sell $6bn in Tesla stock and donate it to the WFP, provided it could describe “exactly how $6bn will solve world hunger”.<\/p>\n

Mr Musk saw the valuation of his Tesla car company surpass a market value of $1 trillion last autumn, making it the fifth such firm to reach the milestone, after Apple, Microsoft, Amazon and Google-owner Alphabet.<\/p>\n

Soon after he took to Twitter to ask users if he should sell a 10% stake in the electric carmaker.<\/p>\n

More than 3.5 million Twitter users voted, with nearly 58% voting in favour of the share sale leading to Musk selling around $5bn (\u00a33.7bn) of shares in the firm in November.<\/p>\n

For More News And Analysis About Angola<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Angola. Elon Musk has taken a 9.2% stake in Twitter, according to a US securities filing. The announcement sent Twitter shares soaring by more than 27% in New York trading on Monday. 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