To date, the billionaire owns 9.2% of the shares of Twitter, the equivalent of 2.6 billion euros. The confirmation of this transaction, which was rumored last week, sent the social network’s stock skyrocketing.
In a document published on April 4, the US stock exchange regulator confirms that Elon Musk has acquired 9.2% of Twitter shares. With 73,486,938, the CEO of Tesla and SpaceX becomes the first shareholder of the social network.
Elon Musk owns 9.2% of Twitter shares
Elon Musk has been using Twitter for many years. He is also one of the most followed public figures on the platform with 80 million subscribers. His account is among the ten most followed on Twitter. He regularly announces big decisions for SpaceX and Tesla on Twitter. He has also been slapped on the knuckles several times by regulators for using the social network to « manipulate » financial markets. Today, he owns 9.2% of Twitter shares, the equivalent of 2.6 billion euros.
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The confirmation of this transaction, which was rumored last week, sent the social network’s stock skyrocketing. As of Friday’s close, the stock was about 25% above its usual price. The document, signed and dated April 4 by Elon Musk, says the stock purchase actually took place on March 14. It is specified that the boss of SpaceX and Tesla bought 73,486,938 shares in Twitter. However, two weeks ago, Elon Musk said on Twitter that he was « seriously considering the idea of creating his own social network ».
The billionaire wants to move the lines at Twitter
Indeed, for the past few days, the billionaire seemed to want to put in place a strategy to challenge the current policy of Twitter management. On March 25, 2022, Musk launched a poll on Twitter and asked his followers about respecting free speech on the platform. He wrote: “Freedom of expression is essential to the functioning of democracy. Do you believe that Twitter strictly adheres to this principle? « . As you can see, the « no » vote won by more than 70% and it was from this observation that Elon Musk submitted the idea of developing his own social network.