The CEO of Tesla and SpaceX, Elon Musk has acquired 9.2% of Twitter shares after expending $2.89billion in stock according to a report by CNBC. His effort come shortly when the tech guru criticizes twitter's free speech policies with regard general public. Musk twitted, “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. The SpaceX CEO has been a fan of Twitter pulling over an 80million followers following his insistence on adherence to freedom of speech.
In 2018 Musk tweeted that he had “funding secured” to take Tesla private at $420 a share, setting off an SEC lawsuit that cost him $20 million and his spot as chairman of the board.
However, he recently challenged the settlement, accusing the SEC of overstepping its constituted powers. He is now demanding the federal Judge terminate his agreement insisting his tweet must be investigated by a competent lawyer.
Last week, he throw open an argument in people's minds by asking a simple question such as “Do you believe Twitter rigorously adheres to this [freedom of speech] principle?”
Musk was mulling coming up with his personal social media platform, saying he was giving it a serious thought.
In a follow-up tweet, He said “the consequences of this poll will be important,” and that his prediction has now apparently come true.
Analyst Dan Ives told CNBC that Musk's stake though still a passive one but it could be stepped up and could lead to buoyancy.
