A major event finally struck the technocratic leftists sitting atop their thrones in San Francisco.
Twitter officially has a new owner!
Well, sort of.
A controversial billionaire just made a giant investment in Twitter becoming the big tech company’s largest shareholder.
Elon Musk can now add another major corporation to his pedigree. The CEO of Tesla snatched a huge chunk of Twitter stock this week just days after questioning the company’s dedication to freedom of speech. This marks a major shake-up in the social media realm as up until now, big tech giants marched in lockstep down the path of censorship.
According to a Securities and Exchange Commission filing published on Monday, Musk now owns a 9.2% ownership stake in Twitter. Based on Twitter’s current evaluation, Musk’s stock purchase cost him a whopping $3 billion. Many have speculated recently that a new social media platform headed by Musk was in the works, but it appears the Tesla CEO decided instead to leave his mark in other ways.
Musk, the world’s richest man, now owns 73,486,938 shares of Twitter, according to the filing. The second-largest share is an 8.39% stake owned by the Vanguard Group. Twitter co-founder Jack Dorsey holds a 2.25% stake in the company’s shares.
Twitter shares jumped 25% in premarket trading on Monday after Musk’s purchase was revealed.
Musk has been increasingly vocal to his 80 million Twitter followers about the harms of social media censorship, especially toward specific political groups, which in this case happen to be conservatives. On March 25, Musk published a poll on his account asking followers if they agreed.
“Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?” Musk later emphasized that “the consequences of this poll will be important.” More than 70% of respondents answered “no.”
Little did anyone know, this was Musk’s (free) way of conducting market research to determine whether an entirely new platform was necessary to tackle the ills of Big Tech censorship.
Nothing has been said about what Musk’s stock purchase means for the ethos at Twitter.
Employees have begun voicing their concern with Musk’s inevitable takeover, and some have even begun handing in their resignation letters.
Fantastic news coming out of Twitter!
👏👏👏 @elonmusk! pic.twitter.com/6UYivc2nk5
— Dave Rubin (@RubinReport) April 4, 2022
Imagine the liberal calamity Elon could cause he lets The Orange Man log back in again!
Author: Asa McCue
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