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How Much Does Elon Own of Twitter?
When you consider that Musk owns 9.2% of Twitter, you might wonder what this means for the company. Despite the fact that the company has four times as much equity as its founder, the stake Musk has in Twitter is significantly greater than Dorsey’s. In fact, his stake is so large that he could have imposed his will on the company, leading to legal disputes with the S.E.C.
9.2%
Tesla CEO Elon Musk recently bought a 9.2% stake in Twitter. The news has triggered a series of reactions, including speculation that the billionaire may start a rival social network. This may interest you : How Long Does It Take For Twitter to Unlock My Account?. However, it seems unlikely given his history of speculative tweets, which have brought the company into SEC scrutiny. Twitter’s content moderation policies and lack of regulatory oversight have sparked doubts among some industry analysts.
As of March 14, Elon Musk owns almost 73.5 million shares in Twitter. This stake is worth $2.9 billion based on Friday’s closing price. That means Elon owns more Twitter shares than Twitter CEO Jack Dorsey or Vanguard Group. But what does this mean for Twitter’s future? Musk has criticized Twitter’s free speech policies and defended them in a tweet. The CEO also said that the failure of Twitter to adhere to free speech principles undermines democracy.
Musk could have imposed his will on twitter
The incoming CEO of SpaceX and Tesla, Elon Musk, has said that he wants to make changes to Twitter’s policies, but the company is cagey about the exact details. Musk has made several public statements that are highly critical of the company, including a recent tweet about free speech. On the same subject : What is a Good Twitter Engagement Rate?. However, he has also been critical of Twitter for using sensitive posts about his electric car, Tesla, in inappropriate and legal ways.
Tesla shareholders might view Musk’s move as a distraction from the company’s issues, but the situation is much more complicated than that. For starters, Musk could have imposed his will on Twitter by buying 9.2% of the company and putting himself on the board. However, Musk later backed out of his plans to join the board, and instead proposed buying the company outright. The company could have then taken Musk’s stock private, which would be a significant win for its investors.
Musk’s stake in twitter is four times that of Dorsey’s
Tesla CEO Elon Musk recently purchased a 9.2% stake in Twitter, making him the largest shareholder. This news sparked a surge in Twitter’s stock price of 25 percent. On the same subject : How Much Will Jack Make From the Twitter Sale?. Elon Musk’s stake is four times greater than that of Twitter founder Jack Dorsey, who owns only 2.2 percent. Dorsey stepped down as CEO in November 2021, but is still a board member.
Elon Musk has also invested in Vicarious and Stripe Inc. He also heads companies such as Neuralink, which makes brain chips, and the Boring Company, which builds underground subways. Dorsey has been criticized for not focusing enough on the company. In November, Elliott Management Corp. bought a minority stake in Twitter, arguing that Dorsey was not paying attention to its mission. After a year, Dorsey resigned as CEO. In November last year, his successor, Parag Agrawal, took over.
Musk’s tweets about Tesla’s finances led to legal wranglings with the S.E.C.
The S.E.C. has filed a complaint against Elon Musk after his tweets about the company’s finances caused a six percent spike in Tesla stock on August 7. This sparked a massive market disruption. The SEC subsequently retaliated by pursuing Musk in court. However, the case is far from over.
The SEC said that Musk’s tweets about Tesla’s financial condition were subject to SEC policy. The SEC lawyer noted that Tesla lawyers did not review the tweet. The tweets were subject to SEC rules and a progressively larger fine. Musk’s lawyers did not respond to Journal requests for comment. Tesla has not yet responded to the Journal’s requests for comment.
Musk wants to make twitter’s algorithm and code open source
In a recent tweet, Elon Musk expressed his interest in buying Twitter for $43 billion. He discussed his reasons for doing so and the changes he plans to make. One change that Musk has suggested is that the algorithm and code should be made open source, allowing anyone to modify it and improve it. However, this proposal is unlikely to be well received by Twitter’s employees. Some of them are already spooked by Musk’s plan to join the board.
While this plan may be welcomed by some, it may be met with fierce opposition in some countries. A minimally moderated Twitter might spark a political firestorm in countries with strict laws. Musk has stated that he would match the policies of each country to avoid any misunderstandings. In some cases, this would mean implementing changes that make Twitter more difficult to use in certain countries. But, it might also mean that Twitter would continue to region-lock content and follow country regulations.
