Recently, Elon Musk, the CEO of Tesla and SpaceX, conducted a public poll on Twitter where he questioned his followers about the fairness and enforcement of the platform’s policies, particularly focusing on issues like free speech. Musk has consistently advocated for free speech on Twitter and has criticized the platform for not upholding these standards.
Last week, Musk tweeted, “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?”
In a significant development, Musk now holds a controlling interest in Twitter as he has acquired 73,486,938 shares of Twitter stock, representing a 9.2% ownership stake valued at around $2.89 billion based on Friday’s trading value of Twitter.
While Musk has not disclosed his plans regarding this acquisition yet, industry analysts are speculating about the potential impact he could have.
Elon Musk recently polled his more than 80 million followers on Twitter, asking them whether the social media platform adheres to the principles of free speech.
Now, he’s taken a 9.2% stake in the company https://t.co/8ikV2ytr8X
— Bloomberg (@business) April 4, 2022
“Given Musk’s history and discussions related to social media, there is a possibility that he may take a more assertive approach on Twitter. This could potentially lead to some form of acquisition,” stated Dan Ives, an analyst at Wedbush, in an interview with CNBC.
“This aligns with Musk’s focus on social media engagement that we have seen him talk about.”
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