Tesla CEO Elon Musk acquired a 9% stake in Twitter to become its largest shareholder at a time when he is questioning the social media platform’s dedication to free speech and the First Amendment.
The ultimate aim of Musk’s 73.5 million share purchase, worth about $3 billion, is not known. Yet in late March Musk, who has 80 million Twitter followers and is very active on the site, questioned free speech on Twitter and whether the platform is undermining democracy.
It’s unclear just when Musk bought the stake. A U.S. Securities and Exchange Commission filing made public on Monday says the event triggering the filing happened March 14. His stake meets the criteria for being a long-term “passive” investor, one looking to minimize buying and selling of the shares.
Yet Musk has also raised the possibility, publicly before his massive and loyal Twitter following, that he could create a rival social media network.
Industry analysts are skeptical about whether the mercurial CEO will remain on the sidelines for long.
