Tesla CEO Elon Musk acquired a 9% stake in Twitter to become its largest shareholder, just before raising questions about the social media platform’s dedication to free speech and the First Amendment.
FILE - The logo for Twitter appears above a trading post on the floor of the New York Stock Exchange, Monday, Nov. 29, 2021. Elon Musk is taking a 9.2% stake in Twitter. Musk purchased approximately 73.5 million shares, according to a regulatory filing.
Industry analysts are skeptical about whether the mercurial CEO will remain on the sidelines for long. Twitter’s stock surged more than 25% Monday. Since Musk bought his stake on March 14, shares of Twitter are up nearly 50%.FILE - Tesla CEO Elon Musk attends the opening of the Tesla factory Berlin Brandenburg in Gruenheide, Germany, Tuesday, March 22, 2022. Elon Musk is taking a 9.2% stake in Twitter. Musk purchased approximately 73.5 million shares, according to a regulatory filing.
The funding was far from secured and the electric vehicle company remains public, but Tesla’s stock price jumped. The settlement specified governance changes, including Musk’s ouster as board chairman, as well as pre-approval of his tweets. The SEC brought a securities fraud charge, alleging that Musk was manipulating the stock price with his posts.
The SEC disclosed that it is investigating Musk’s Nov. 6, 2021 tweets that asked followers whether he should sell 10% of his Tesla stake. The commission confirmed that it issued administrative subpoenas while investigating whether Musk and Tesla are complying with disclosure controls in the 2018 agreement.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Twitter shares soar more than 25% after Elon Musk takes 9% stake in social media companyTesla CEO Elon Musk has taken a big stake in social media company Twitter, a regulatory filing released Monday showed.
Read more »
Elon Musk Takes 9.2% Stake in Twitter Worth Almost $3BUPDATE: Musk has bought almost 73.49 million shares in Twitter, which would be worth $2.88 billion based on Twitter's last close. By parikshitm899
Read more »
Tesla CEO Elon Musk takes a 9% stake in TwitterTesla CEO Elon Musk is taking a 9.2% stake in Twitter.
Read more »
Elon Musk buys large stake in TwitterNEW: Elon Musk has bought a 9.2% stake in Twitter, according to a regulatory filing released today. He criticized the company last month for 'failing to adhere to free speech principles.'
Read more »
Elon Musk buys 9 percent stake in TwitterThe stock-buying revelation comes as Musk has emerged as one of the loudest and most prominent critics of Twitter’s moderation efforts.
Read more »
Tesla CEO Elon Musk takes a 9% stake in TwitterMusk has raised questions about free speech on Twitter and whether failing to adhere to its basic principles undermines democracy.
Read more »