Many people are wondering what the purpose and intentions are of Tesla CEO Elon Musk after reports drop that he has purchased over 9% of Twitter stock valued at $2.89 billion.
Last month, Musk asked his followers on the platform for their opinion of Twitter’s position on free speech. Now many people are wondering if the passive position purchased by Musk will be used to leverage a change in the Big Tech platform.
(CNBC) – Outspoken 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 what he said was its failure to uphold the tenets of free speech.
Musk owns 73,486,938 shares of Twitter, which represents a 9.2% passive stake in the company, according to a Securities and Exchange Commission 13G filing released Monday. The stake is worth $2.89 billion, based Twitter’s closing price Friday.
The purchase comes less than two weeks after Musk criticized the company, polling people on Twitter about whether it 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?” (read more)
Well, he could hardly make it any worse!
Answer? YES!
Also he’s going to start saying things to see if he can get banned.
I think it’s pretty obvious that Musk doesn’t care about (love) money. He just wants to do awesome things. It’s the doing of awesome things which motivates him in what he does.
If he was broke I believe he would care about money…
I don’t know his history but I can’t imagine he was quite so mega-rich when he came to the USA. It’s possible though. But the difference between “rich people” and “lottery winners” is pretty obvious. For the wealthy, money is a flow and a tool. Imagine being a farmer and hording water. Your plants don’t grow but you sure have a lot of water!
He isn’t broke so that is kind of a moot point.
Let’s turn it around – If you had as much money as him what would you be doing.
I’d be building a giant bachelor pad in Mars with turntable tonearms and cartridges designed to work in the lower gravity.
Groovy Mars.
Extra internet points for you today 😉
Read the biography about him. The author is Ashley Vance I believe. Your statement is 100% incorrect.
He’s worth $300B, spending $2.89B That’s the equivalent of us peasants having $300. And dropping $2.89. Not making small of it. Just perspective
He is funding the planting of microchips in humans. While he says his intentions are altruistic, it is dangerous.
I do not trust anyone with that much money, who seeks attention and is dabbling in science.
Also, I hope the next tweet is about the stolen election. But it won’t be long before they start admitting they did it ahead of the people in high places start getting arrested.
Think about it! He gets banned and then dumps his stock and the twitter collapses. Would be pretty awesome.
The heck with dumping it.
I’d want to see him treble down!
That would be my guess also.
I am not sure if he will be able to make any impact with such a small share. But, it will be interesting to watch how it all plays out.
4x as many shares as the founder.. almost 10%. pretty large voice with the board.
However, added together, Vanguard and Blackrock own more shares than Musk. I’m wondering what his next move will be…
Uh…small?
Hmm. Well, I guess the old adage is true – 2.89 Billion here, 2.89 Billion there, pretty soon it adds up to real money…
He’s just starting. Grub stake.
With that kind of investment, he will have a voice, it depends on what the top shareholder or shareholders have as a percentage, but I agree that 9% doesn’t seem like enough to make any real impact.
That 9.2% makes Musk the top shareholder. Jack comes in second at 2.6%.
Right now, he’s da man! What will he do next?
Untrue, more company’s have over 2.6 and under 9.2. Vanguard is one.
Vanguard is Blackrock’s little friend, right?
As I said above, the institutional shares held by Vanguard and Blackrock exceed Musk’s shares. I believe they control around 15%.
I have no doubt Musk has turned all options around six ways to Sunday. He’s aware he’s playing on a 4-tier virtual chessboard, and any past blunders should now make him an opponent not to be underestimated.
He will try to put some like thinking people on the board of directors. He looks @ this co. and sees it has a value of 30 billion. The problems he will run into are you have large groups of employees who will try to undermine his “ideas on free speech” . This company has another problem with the latlrge amount of stock options they award which also dilutes the stock. There are some other large shareholders who also are disappointed in the stock performance. Since it’s IPO stock has done virtually nothing in 10 years. JMOO
Jack Dorsey owns around 2.5%.
10% isn’t a small share and he can always buy more! There’s an SEC rule about buying 10% of a publicly traded company. It has to be announced.
he is now the largest individual shareholder
”Musk could also short his stock at anytime collapsing Twitter.”
… at which point he could quintuple his holdings for control.
Love the way you think, Brother!
Truth Social absorbs Twitter.
Sounds to me like a really big camel just stuck his equally big nose under the Twitter tent.
One gay already quit over him joining.
Seriously?
The guy made over a billion dollars since March by causing a spike in the shares he was buying. Maybe freedom of speech has nothing to do with it and it is all about the Benjamins. Hope not, we will see.
Musk doesn’t seem like the kind of person that does things just for money.
LOL!
The other possibility may be the accelerated demise of the company by purchasing a significant share and then shorting that position.
Economic revenge for being banned?
I’d LOVE to see that happen.
Lol!
Thats a good one!
Again, LOL
He doesn’t SEEM like the kind of person that does things just for money?
OMG, red mosquito.
The guy has been doing EVERYTHING for money for 15 years now.
WTF are you smoking?
No, he has never done “EVERYTHING” for the money!!
Only an utterly clueless person would even think such a thing.
Try reading some books. I know, that’s a revolutionary thought. But give it a whirl.
As a boy in South Africa, Elon read every book in every library he could access. When he had read them all he started reading the Encyclopedia Brittanica from the first page of the ‘A’ volume to the last page of the ‘Z’ volume. He would spend 10 hours a day reading and he hasn’t forgotten a single word of any of those books.
But then he is a dictionary definition of a genius, and is so in all the right ways.
Think about it.
Why would a guy worth HUNDREDS of $ BILLIONS do this for $1 B, when he could multiply that by 20-50 with the right moves for multiplier outcomes?
Examples:
• Class Action Lawsuits … with Shareholder access
• Restore Stolen ElectionS … for M🇺🇸A🇺🇸G🇺🇸A! Leadership
• Multiply Elon’s following … for M🇺🇸A🇺🇸G🇺🇸A! Telecommunications
Let’s see if he’s partnered with the Carl Icahns of the world.
What if he’s partnered with President Trump’s TMTG 🤝
… explaining today’s departure of TruthSocial tech execs. 🤛
From what i heard on Varney today, they left due to not hitting the launch date.
Elon might be a genius, sure seems that way, but even highly intelligent people make bone headed moves. I just don’t see his share of 9% being able to do enough to correct the political swamp propaganda site that is Twit-ter.
As a shareholder, he would have certain rights to company information. Additionally, he would have grounds to sue if the company were doing things that adversely affect the value of his stock if the actions being taken by the officers are not for a business purpose nor to meet a legal or regulatory obligation.
Shareholders have rights, especially large Shareholders.
And a large twitter following. He could tweet out he’s nominating this person for a board seat, please vote for them. Every shareholder gets votes in relation to their holdings.
“Elon might be a genius, sure seems that way, but even highly intelligent people make bone headed moves.”
Bill Gates comes to mind, but he’s hardly alone. It’s a big problem when billionaires are our nemeses and at the same time the people we hope will save us (Trump and Musk come to mind.)
Have.to.change.the culture.
Have at it.
This could be the beginning of a much larger plan he has in mind. Might not be a ‘one and done’ thing. People with that much $$ usually have an, ‘x’ year plan for serious investments.
Elon Musk can make alliances with other stakeholders. Most people think he’s quite smart and worth listening to. He can probably sell some ideas if he try and get votes behind them.
I would file this under “Interesting developments”.
Still though, one does not buy billions worth of stock in a company without a plan for it.
Who knows? Maybe some good can come of it. I will wait and see.
It looks win-win to me. If he fixes their censorship or he raids them and then tanks the company either way is a plus.
This will be very interesting.
He said he loves freedom of speech, so let’s see.if he’s honest about it.
Ugh! Let it die!!
If we can actually take it from the Left though, that would actually be a victory in the counter-revolution instead of yet another retrenchment as we’re driven further from the public square.
Yeah, they bought Drudge and we bought Twitter 🙂
So, here is something I was wondering. Maybe someone can answer it for me. If Trump runs again wouldn’t the law require that Twitter allow him back on?
His personal page not likely but I think he would be able to use
the POTUS official page.. But then he would be limited what he could
say on that page..He used his personal page when he was in office.
I don’t think democrats and big tech are particularly concerned about “laws” when it comes to trying to destroy or negatively impact President Trump.
Thanks for the laugh and you’re right.
They don’t give a damm about laws and regulations.
Those are for the little people, like us.
i read ‘passive’ shares, meaning powerless.
They are still voting shares. Twitter has only 1 class of stock. FB , google and others have voting and non- voting shares meaning , that’s where change is totally decided by Zuckerberg and the founders of google.
All share are the same!
A shareholder must file with the Securities and Exchange Commission at reaching a certain ownership percentage. The easiest way is to check “passive”. It can always be changed later. If the shareholder checks “active” there’s a little more paperwork, and he must disclose a plan for, how he plans to use his influence in the company.
Elon Musk is not a passive kind of guy, so he will do something interesting in the near future, but not go out now with his plans. Maybe he doesn’t have a plan ready but only some thoughts.
Elon Musk is another globalist. He’s the “controlled opposition”. He doesn’t talk about God, he talks about putting computer chips in your brain.
Yes. He is apparently into transhumanism……(not good)
https://www.technocracy.news/transhuman-elon-musk-your-brain-will-get-its-own-usb-c-port/
an unlikely savior indeed.
As espoused by WEF!
Here’s another video on his transhumanism:
https://www.redvoicemedia.com/2021/12/transhumanism-a-threat-elon-musk-pushes-for-neuralink-integration-by-2022-video/
Thanks, Just V. I have very strange feelings about Musk, and you just nailed it… “controlled opposition”! Also, didn’t he name is kid something bizarre? The guy is way to weird for me, and I’ve been called weird.
He’s pretty cozy with China, too. Remember that a chunk of Tesla’s profit comes from government subsidies.
Could it be that now that he has a stake in ownership, he now has standing to sue the board for their actions which are not in the best interest of the stockholders????
OK, but where are all the big conservative high rollers at? Too busy funding think tanks, websites, Etc?
We shall see. Will he be able to change the Twitter ban on Trump? That’s my litmus test.
And… will he want to do so…
One thing this purchase does, that is not mentioned anywhere I’ve seen, is that now Musk has legal standing to sue the directors for acts which are reasonably related to the diminution in value of his shares. Directors are fiduciaries of their corporation. Cancelling 1/3 of your subscribers, for dubious political reasons, probably doesn’t pass the fiduciary test should those cancellations negatively affect share market value.
73 million shares is definitely enough to influence the board. And Elon has quite a following – many of home are already holders of Twitter stock. The board ignores holders of smaller amounts of shares, but to ignore Elon Musk is at their own peril.
The question is, what will he do with his influence? His comments regarding free speech are promising.
The analog (REAL) Town Square was never censored … why should the digital Town Square be censored? What you feeeeeeeeel is “hate speech” … is FREE Speech. Numero Uno de el Constitutiono
No. Free speech is the THIRD of the six clauses in the First Amendment, AFTER the two religious clauses. Not one person in a thousand can name all six… even while looking at it! Kristina Karamo cited the sixth in her incredible speech at the Trump rally two nights ago in Michigan.
OK … 1.3
SMH
No doubt the weaponized SEC will find a way to block it.
I would love to be a fly on the wall in the boardroom over the next few days. I don’t have the talent but I would love to see a reworking of that Hitler (Jack Dorsey) in the bunker video when he finds out about Elon Musk!
Twitter is still a sh** show. It will always be a sh** show.
Your life is better without it. Our lives are collectively better when you quit it permanently.
The timing is very dubious, kind of fits neatly with trying to take focus and impetus away from Truth Social. I will always trust a Trump backed effort more than an Elon backed effort. I don’t fully trust Elon. He’s made many billions with part help from the government, which includes the Deep State, like Bezos has. If they deep state wanted to ruin him they could have done so. He’s giving people hope in Twitter, but all it could mean is a bait and switch to distract people from Truth Social, and then switch back to full censorship ahead of the 2024 election.
Hate to say it, but Truth Social is not gaining impetus due their own poor planning and launch execution. Not trying to rain on their parade, but I have been watching the unfolding of their launch and I’m not impressed.
As for Mr. Musk, I am not his biggest fan. He is a visionary in his own right and has leveraged our tax dollars into a mega business. He’s doing some interesting things with that money. But I’m still in the wait and see camp.
No, he has not “leveraged our tax dollars into a mega business.”
It will be a major shock to you to learn that he is an honest person and doesn’t need to steal anyone else’s money.
Currently SpaceX is saving American taxpayers many millions of dollars.
Not enough room here to explain in detail. But you could try reading the real news for a change.
Meanwhile, what’s going on with President Trump’s platform? I have not tried to get on it but I heard it’s not really functional yet. Here’s a question- would it have been possible or better for PT to have done something like what Musk just did- that is, take over an existing tech company or buy enough stock to get some power in it?
From what I’ve read, President Trump has yet to post on it.
he only posted once
He’s posted
Once on the platform. 2
Main executives walked yesterday. Not good news!
https://www.reuters.com/technology/exclusive-two-key-tech-execs-quit-truth-social-after-troubled-app-launch-2022-04-04/?utm_medium=Social&utm_source=twitter
“Walked” or got fired?
It took so long to get on platform that I have forgotten password and the change password page is not operable. 😬
A few things:
1) Even if he did what Musk did, the board could find a way to freeze him out and ignore his shareholder requests just because he’s Trump.
2) If he bought enough to have controlling interest, he’d spend a fortune and at that point it’s probably cost effective to start his own.
Also if he does get controlling interest that doesn’t guarantee the culture will change unless he fires close to everyone in that woke corp. It’s tough to change the culture of a company.
And finally
3) Instead of buying them out and giving them money to create something else, I think he’d rather put them out of business and bankrupt them. It’s a lot more satisfying. Remember the movie Trading Places? There’s a line about the best way to hurt rich people is to make them poor.
Or how about buying CNN and ending up with an entire network. The first show to be added after all the firings would be The Apprentice-Politics.
Think about that one as a news show where challenges are about current events and contestants have to come up with real solutions. Judged by a slight America first majority panel and winners get funding and endorsements. Even democrats would be allowed on to lose bigly!
His top two people quit
Perhaps caught.
Musk is worth way more than Trump. Its not even close. He could not have done what Musk just did.
Okay, so Trump starts a competitor, and Musk then invests in the original.
If he saves free speech on the original, won’t that ice out competitors? I.e., Trump?
DWAC is down today and two top people quit. Perhaps they were purchased by another competitor.
That Reuters story is sketchy. They say they don’t know a lot of things about those two people and what they are doing now, whether they were just transferred, or whatnot. Looks like might know but are pretending not to know to push propaganda out.
Let’s see. The two people supposedly supposed to make it work suddenly bail on the company.
Thing is, they have been so successful, that I haven’t heard a single complaint. /s
Could this actually be a blessing in disguise?
Gives Truth Social the opening to pick up and own Twitter.
Elon Musk is not one of us he has no idea how we think and how we live.
He is light years away from our reality.
I expect him to do what is best for Elon Musk, this guy is on the outside looking in.
I’m sure everyone agrees If there’s gonna be any significant change it will come from “deplorables” sticking together in huge numbers refusing to comply.
There’s not gonna be an easy way out, it’s gonna be hard, risky and dangerous.
So, go it alone, no allies, strict tribes, no conversation, no welcomes, poo-poo all the way.
Alrighty then.
When I read garbage like this I wish there was some way of unseeing it. Maybe some disinfectant spray that would remove it from my screen would help.
I wouldn’t get too optimistic. As we’ve seen, isolated individuals who go against the grain, like Trump, always get overwhelmed by the concerted efforts of the swamp. No matter how rich they are.
If he were part of a network of others with money, power and influence I might feel more hopeful that a real opposition could become ensconced.
Maybe at best he makes a small difference that grows exponentially.
Elon will go where Elon wants to go. He has the money and the motivation so hopefully he will end up on the side of America.
Wasn’t there something recently said by @Jack (of former CEO twit fame), that he was sorry for the sad state of the internet…or some such thing?
Could Elon and @Jack have something up their sleeves?
Yes.
I think I posted that twit on page 1 of Open Prez fr/ today?
Peter Thiel could invest next?
Looks like he used his barbershop money too.
Musk should now develop a format for SM that works with any company/platform, just like email. When was the last time you heard email was censored or somebody got canceled for sending a dirty joke?
We have free email with annoying advertising and pay for email service that can wipe your butt for you. If you don’t like some kind of email then set your junk and spam filters. Social media should be same way.
how much does paul singer own?
“The kindly billionaire will save us ” meme returns. 😒
lolz.. so now the Neuralink transhumanist has your best interests at heart..
All of the idols… all of them… are false.
I bought TWTR at $48.24 premarket. Trading $50.23 after market now. It is up $11.00 for the day. I dumped it at the close.
I did ok. But, Musk made 808,356,318. Not a bad day on a stock that has a PE ratio of $0.00 and earning per share of $-0.2920.
Sorry, my gut is all suspicious cat about Musk. I can admire someone and remain suspicious. He believes that everyone will eventually need a “universal basic income” because they will be replaced by robots/A.I. He’s not a man of Faith other than in his own cool technologies. Don’t be taken in by this man.
Just sayin’
I’ve already seen Twitter employees saying they will resign as they neither want to work for nor with Elon Musk which is curious since 9% is hardly controlling interest.
PREDICTION: Not much will change in Twitsville.
Don’t be fooled by the big t*tties.
I don’t trust Musk.
Sure, he’s one of the biggest entrepreneur of the last 20 years.
And has a reach that is comparable to PDJT.
Doesnt make him a white hat.
Dont go all in on Musk.
He doesn’t give a crap about you or me.
It-shay ann -cay the Commie CEO. Anyone need a translation?
Remember, Musk paid more in taxes from the sale of some of his stock than ANY person has paid!! That means he has quite a bit of cash.
When Bezos acquired the Post, it was to bring back news. And now it’s just a biased DC media company.
Soooo, let’s hope Musk doesn’t turn it into something which benefits him and like minded/invested people.
God used King Xerxes, a vain and greedy man, to save his people in the Old Testament. Why would it seem strange to us for God to use other vain and greedy men in modern times to activate His plan ?
So, if 10% is $3 Billion …then 100% is……would be petty cash for Elon to get controlling position.
3 billion is 1% of his worth.
Bravo Elon!
The real story is finding out that the government is working hand in hand with Twitter. Exposing that will be big and hurt a lot of seamp creatures through sunlight.
We all know Elon has a lot of money. And yet….he still has done Nothing for the betterment of this country and it’s people. Buying 9.2% of commie Twitter platform means nothing. When he does something to make a positive change for We The People….then I may reconsider. As of now…he collects billions from China…while doing massive business there. He has always rode both sides of the fence….and I’d never describe him as a Patriot. Time will tell…..
I disagree. Elon has been a game changer for our country.
I’m always amazed at how others believe they can dictate how someone’s wealth should be spent.
https://news.yahoo.com/tech-shares-boost-wall-st-212244737.html
Funny how that works.
Its like the guy is so big he makes his own market.
Elon 2024?
Angelo Zino is senior industry analyst at CFRA Research.
“At the end of the day, listen, he’s only going to take an interest in a company like this if, one, he thinks he can make money from it, and given our view of this company being, you know, underappreciated given its asset base, we do think he will make money on this, and he already has to some extent.”
Can’t be a bad thing – perverts and trannys and communists are quiting in droves.
good stuff here
The Battle of the Century: Here’s What Happens if Elon Musk Buys Twitter
How many people in history have spent $ 2.89 Billion in “pocket change” for only a 9.2% passive stake in a mega company worth more than the total GDP value of many countries?
Wealth distribution is out of control and “where she stops nobody knows,” as a carnival barker might say as he/she spins the “wheel of fortune” for the suckers that paid for the spin.
At least Elon Musk is a smart and seemingly concerned person about the future. This is a story worth following but what will happen to the investments of the Trump/Nunes venture, of Rumble, of Frank speech and so on. I was hoping despicable Twitter would eventually be replaced by new free speech options and not given more investment money.
Well, this is an interesting surprise. Lets see what comes of it. Looks like a hostile takeover in the making.
There really is no downside to in Elons taking a position in Twitter. Twitter has become a mouthpiece for the Biden adm. Critisize Fauci ,get banned,etc. Another interesting fact is Elon has 8 children, and I am sure they are not on welfare. Pray and pray more.