Musk’s ultimate aim in acquiring 73.5 million shares, worth about US$3bil , isn’t clear. Yet in late March Musk, who has 80 million Twitter followers and is active on the site, questioned free speech on Twitter and whether the platform is undermining democracy.
Twitter co-founder Jack Dorsey stepped down as CEO in November. Musk’s stake in Twitter is now more than four times the size of Dorsey’s, who had been the largest individual shareholder. Musk has not spoken specifically about any Twitter rule changes he might push, but the social media platform’s history of suspensions and bans is well documented.
Twitter earlier this year banned the personal account of far-right US Rep. Marjorie Taylor Greene for multiple violations of the platform’s Covid-19 misinformation policy. Other people banned in recent years include Steve Bannon, for suggesting the beheading of Dr Anthony Fauci, former Ku Klux Klan leader David Duke for breaking the social media site’s rules forbidding hate speech, and right-wing conspiracy theorist Alex Jones and his Infowars show for abusive behaviour.
Twitter’s stock surged nearly 30% Monday. Since March 14, the date listed on filing by Twitter, its shares are up nearly 50%, meaning that Musk’s investment has paid handsomely – so far.In March, Musk told his millions of followers on Twitter that he was “giving serious thought” to creating his own social media platform, and has clashed repeatedly with financial regulators about his use of Twitter.
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