Elon Musk buys $3 billion stake (9.2%) in Twitter and is now the platform’s largest shareholder.
He now owns 4x as much equity in Twitter as former CEO Jack Dorsey.
The disclosure triggered a 23% rise in Twitter’s shares… company stock soars as Musk buys nearly 73.5 million Twitter shares…Read More
Twitter founder Jack Dorsey said on Saturday (April 2) that he partially blames himself for the sad state of the internet today.
“The days of usenet, irc, the web…even email (w PGP)…were amazing,” Dorsey said in a tweet. “Centralizing discovery and identity into corporations really damaged the internet.”
“I realize I’m partially to blame, and regret it,” Dorsey continued.
Tesla CEO Elon Musk purchased a giant stake in Twitter that makes him the largest outside shareholder in the social media stock, not long after criticizing the company for failing to uphold the tenets of free speech.
The Musk buy comes less than two weeks after Musk criticized the company, polling people on Twitter about whether Twitter adheres to free speech principles. “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy,” Musk tweeted. “What should be done?”
Late last month, Musk also said he was considering building a new social media platform.