Elon Musk buys a part of the Twitter network

The founder and CEO of Tesla, Elon Musk, indirectly bought a 9.2 % stake in the technology company Twitter, owner of the social network of the same name, according to the company in a statement sent to the Stock Exchange Commission and United States Securities (SEC).

Specifically, Twitter indicated that the trust “Elon Musk Revocable Trust”, of which the businessman is the sole beneficiary, was the buyer of the shares. This makes Musk the indirect owner of the entire stake.

The trust has been made with a package of 73.5 million Twitter shares, which, compared to the 800.6 million titles that make up the company’s share capital, represent a 9.2 % stake.

At the price at which the shares closed last Friday, the participation with which Elon Musk has been made is equivalent to 2,888 million dollars.

The purchase of this block of shares was carried out a week and a half after Musk asked his millions of followers on Twitter if they considered that the social network adheres “rigorously” to the principle that freedom of expression is essential for democracy. .

Two days after the result of the survey, where the majority of his followers voted “no”, the owner of Tesla wondered if a new social network that complied with this principle was “necessary”.

K. Tovar

Source: Xataka