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What Percentage of Twitter Does Elon Musk Own?
Did you know that Elon Musk owns 9.2 percent of Twitter? This makes him the second largest shareholder after Facebook. But is Musk interested in taking the social media network private? Or is he more concerned with free speech? Here are some of his statements about Twitter. Is Elon Musk a “free speech absolutist”? Let’s discuss these questions together. Let’s begin by determining what percentage of Twitter does Elon Musk own.
9.2 percent
Elon Musk’s latest move was to disclose that he owns nearly 9 percent of the social networking site. This move triggered a nearly 27% surge in Twitter shares. Elon Musk had previously tweeted about building a new social networking platform and questioned the company’s commitment to free speech. He did not respond to a request for comment. Twitter declined to comment. Elon Musk purchased Twitter shares at a delicate time. CEO Jack Dorsey stepped down in November and is set to leave his board at the end of this year. However, the company has been under fire recently from regulators and lawmakers, who have expressed concerns about the toxic content on the site.
As a majority shareholder, Musk may be motivated to bring his vision for a rival social media platform to Twitter. In the past, Musk has flirted with the idea of creating his own platform, and his recent purchases of Twitter shares are evidence that he has the motivation to put his vision into action. This may interest you : What is the Advantage of Twitter Over Facebook?. He is also a board member of Twitter, so Musk could try to implement his social media vision on the company.
Elon Musk is the second-largest shareholder in twitter
Vanguard Group, a US fund, recently increased its stake in Twitter and is now the second-largest shareholder in the company. Vanguard owns 10.3% of Twitter. Elon Musk, founder and chief executive of Tesla, is the company’s largest individual shareholder, with 9.2% of the company. He reportedly owns $2. Read also : Can Police Track Deleted Or Fake Twitter Accounts?.9 billion worth of Twitter shares. He has not commented on the news.
While Tesla shares are linked to the bulk of Musk’s wealth, Twitter shares are his second-largest holding. While he’s the second-largest shareholder, his stake is less than ten percent, which makes him an activist and active shareholder. If he buys more than ten percent of the company, he’s probably the third-largest shareholder.
He wants to take it private
The recent news that Elon Musk wants to buy Twitter has sparked a lot of corporate drama, but is this a good idea? Musk has already committed 21 billion dollars of his own money to the effort, and while many doubt that he has thought it through, it’s hard to argue that he could not have done the same. See the article : How to Create a Twitter Business Account. The change Musk is seeking includes an edit feature and an open-source algorithm.
In addition, the process of buying a company requires a lot of financial juggling. Twitter’s founder is reportedly worth $220 billion. So, if Musk takes it private, he could spend as much as $25.5 billion, but he’ll also have to pay the banks back with interest. Nonetheless, this could be a good deal for the company. If Musk does buy Twitter, he could use the money to invest in other companies, or to pay down debt.
He is a “free speech absolutist”
Free speech is an essential part of democracy, and Elon Musk has claimed that his company’s plans to privatize Twitter are based on this principle. However, a free speech absolutist has to tread carefully when attempting to change the rules of a site like Twitter. After all, if Musk can privatize Twitter, does that mean that he doesn’t believe in the principle of free speech?
Free speech is a fundamental right, and Musk claims to be a “free speech absolutist.” However, he has a history of silencing critics. In fact, he fired a former Tesla employee because he raised safety concerns about Tesla’s autopilot function on YouTube. Musk’s firing had nothing to do with the law on free speech. In fact, Musk’s firing of this former employee had nothing to do with free speech, yet he is still claiming to be a “free speech absolutist.”
He wants to make its algorithm and code open source
Twitter’s CEO Elon Musk recently said that he wants to make its code and algorithm open source. While this would increase the company’s profit, it could also make users’ experience on the site more difficult. Twitter’s design and algorithm are what determine which tweets you’ll see, based on their content. Having the code and algorithm open-source would allow anyone to make changes and test them out for bugs.
A recent poll conducted by Musk on Twitter showed that 82.7 percent of respondents support making Twitter’s algorithm and code public. Just 17.3 percent were against the idea. Those who voted yes received more than 900,000 votes. Musk’s plan could be implemented as a reality if it can be made popular among users. While it may be difficult to prove biases in the Twitter algorithm, it would also allow rivals to clone it and take advantage of the public’s need for information.
