Elon Musk spent $3 billion on a 9.2% passive stake in Twitter.
Elon Musk bought 73,486,938 shares on March 14 which was revealed in a filing on Monday.
Honestly, I’m not that surprised that the billionaire wanted to own Twitter, it has for a long time seemed like his favourite place to be.
The purchase has been publicised not more than a week after Musk criticised the social media platform, saying that he was seriously considering starting his own platform.
“Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?” Musk tweeted on March 25.
Maybe that’s why he wanted to get his hands on the majority of shares, it’s time for a takeover. Who knows.
More to come.