Elon Musk, the billionaire owner of Tesla and SpaceX, has purchased 73.5 million shares of Twitter stock, making him the largest shareholder. He now owns 9.2% of shares.
The move comes after Musk published a series of tweets raising concerns with the tech giant’s position towards free speech on its platform.
Many wonder if this is the beginning of possible bid to try to control the company by Musk.
As reported in The Washington Times and Associated Press:
“‘This morning Elon Musk revealed he now owns a 9.2% passive stake in Twitter,’ Mr. Ives tweeted. ‘We would expect this passive stake as just the start of broader conversations with the Twitter board/management that could ultimately lead to an active stake; more aggressive ownership role of Twitter.’
“Mr. Musk’s influence over fellow stockholders will be on display next month at Twitter’s annual meeting of stockholders. The May 25 meeting’s agenda includes several items, such as elections for the company’s board of directors.”
Read the full story in The Washington Times here.