Elon Musk buys out 9.2% stake in Twitter Inc amid free speech conflict

The tech magnate Elon Musk has purchased a 9.2% stake ownership in Twitter Inc. This hereby succeeds his attempt to become the platform’s biggest shareholder.

Elon Reeve Musk F.R.S is an entrepreneur and business magnate. He is the founder, CEO, and Chief Engineer at SpaceX; early-stage investor, CEO, and Product Architect of Tesla, Inc. Under his belt various innovations and tech startups have made revolutionary productions. Thus he is also a founder of The Boring Company; and co-founder of Neuralink and OpenAI.

Recently, the tech magnate Elon Musk has purchased a 9.2% stake ownership in Twitter Inc. This hereby succeeds his attempt to become the platform’s biggest shareholder. Especially, a week after he hinted his plans to shock the social media industry.

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Conclusively, Twitter shares surged by 27% in premarket trading after just the regulatory filing which was released Monday. Musk’s stake is an approximate worth of $2.89 billion. Which is estimated and based on Friday’s market close.

Space Tech Innovation to Social Media, Why?

Weeks before this huge move which has sent shockwaves to social media competitors. Since, Elon Musk gathered some data using polls with his more than 80 million followers on Twitter. The tweet exclusively questioned whether Twitter “actually” stands for free speech.

Therefore, obvious results concluded that more than 70% said of his followers went with a no. To which he then asked if a new platform was required. This share holding could be linked with his efforts to improve the free rights of people across the world.