OPINION: This article may contain commentary which reflects the author's opinion.
Tesla CEO Elon Musk bought a 9.2% stake in Twitter, making him the largest shareholder of the left-leaning social media platform.
“Musk owns 73.5 million Twitter shares, valuing his passive stake in the company at up to $2.9 billion based on the stock’s Friday close. The shares are held by the Elon Musk Revocable Trust,” Newsmax reported.
“Musk, a prolific user of Twitter, has over 80 million followers on the site since joining in 2009 and has used the platform to make several announcements, including teasing a go-private deal for Tesla that landed him in regulatory scrutiny. He, however, has been critical of the social media platform and its policies of late and has said the company is undermining democracy by failing to adhere to free speech principles,” the report added.
Many social media users reacted to the news, with Republicans supporting the move and others not too happy about it.
Now that @ElonMusk is Twitter’s largest shareholder, it’s time to lift the political censorship.
Oh… and BRING BACK TRUMP!
— Lauren Boebert (@laurenboebert) April 4, 2022
Will the new majority shareholder return freedom of speech to Twitter?
It will require courage bc the regime is heavily investing in a certain industry and threats will undoubtedly come.
Yet the freedom of speech restored will enable us all to defeat them.@elonmusk
— Rep. Marjorie Taylor Greene (@RepMTG) April 4, 2022
FT: Elon Musk becomes Twitter's biggest shareholder after taking 9.2% stake in company
— Josh Caplan (@joshdcaplan) April 4, 2022
Elon Musk is taking a 9% stake in Twitter. Stock currently on its way to Pluto, up 25% in the pre-market.
— Joe Concha (@JoeConchaTV) April 4, 2022
— The Verge (@verge) April 4, 2022
Elon Musk buys a 9% stake in Twitter and immediately after, I get verified.
Thank you Elon. ❤️🐳
— Mr. Whale (@CryptoWhale) April 4, 2022
.@ElonMusk is now the largest shareholder of Twitter.
Time to get this platform back to its former glory.
Step one – bring back President Trump!
Step two – give everyone who has been banned a second chance.
Step three – end all forms of political and other censorship.
— Errol Webber (@ErrolWebber) April 4, 2022
The move comes after Musk put up a poll asking his followers if they believed that Twitter did a good job of adhering to free speech principles.
“Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?” the 50-year-old asked. “The consequences of this poll will be important. Please vote carefully.”
The consequences of this poll will be important. Please vote carefully.
— Elon Musk (@elonmusk) March 25, 2022
“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?” he asked, following up, “Is a new platform needed?”
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? https://t.co/aPS9ycji37
— Elon Musk (@elonmusk) March 26, 2022
Over 2 million people voted in Musk’s poll, which found that 70% of users said they did not think Twitter was protecting free speech principles and rights.