Elon Musk Acquires 9.2% Of Twitter To Become The Platform’s Biggest Shareholder
Elon Musk Acquires 9.2% Of Twitter To Become The Platform’s Biggest Shareholder. It has been reported that South African born Billionaire and founder of Space X Elon Musk has acquired a 9. 2% share in social media giant Twitter, making him the biggest shareholder of the social media platform.
According to Forbes Magazine, Musk has purchased 73.4 million common shares of Twitter, the shares are estimated to be worth around $3 billion. This comes after Musk publicly criticized Twitter of not supporting or promoting free speech on the platform. This could mean that Musk aims to make changes on the platform through this acquisition.
Twitter is an American microblogging and social networking service on which users post and interact with messages known as “tweets”. Registered users can post, like, and retweet tweets, but unregistered users can only read those that are publicly available. Twitter was created by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams in March 2006 and launched in July of that year. By 2012, more than 100 million users posted 340 million tweets a day, and the service handled an average of 1.6 billion search queries per day. In 2013, it was one of the ten most-visited websites and has been described as “the SMS of the Internet”. Twitter has more than 330 million monthly active users.
Elon Musk has been known for creating rockets and cars but now he has ventured into the social media industry. This shows that he is willing to diversify his investment portfolio even further. With Musk being a frequent user of Twitter and him having over 80 million followers on the platform, it’ll be interesting to see how he will influence the corporation as the new owner.
