Elon Musk Becomes Largest Twitter Shareholder

Elon Musk

“After a week of saying that he would launch a new social media platform, billionaire entrepreneur Elon Musk has become Twitter’s largest shareholder. As reported by Fox Business, a Monday filing from the SEC showed that the Tesla and SpaceX CEO bought 73.5 million shares of Twitter, giving him a 9.2 percent stake in Twitter Inc. and making him the platform’s largest shareholder. Following Monday’s news, Twitter shares jumped by more than 25 percent, with individual stocks priced at $49.81. Before making the purchase, Musk asked his followers whether he should launch a new social platform over Twitter’s tendency to censor dissenting voices. ‘Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy.’ The news comes after Twitter recently locked out the Christian media platforms The Babylon Bee and The Christian Post for calling Rachel Levine, a transgender Biden official who serves as the Assistant Secretary of the Department of Health and Human Services, a man. On Tuesday, Babylon Bee CEO Seth Dillon revealed that Musk was considering buying Twitter after Dillion confirmed that the satirical news site had been locked out. ‘Musk reached out to us before he polled his followers about Twitter’s commitment to free speech. He wanted to confirm that we had, in fact, been suspended,’ Dillon tweeted. ‘He even mused on that call that he might need to buy Twitter. Now he’s the largest shareholder and has a seat on the board.’”

Christian Headlines, Apr. 5, 2022