Elon Musk has purchased a big chunk of Twitters shares with a value clocking in at $2.89 billion. Making him the largest shareholder of the company. When it was revealed in a regulatory filing, the stock surged about 25%.
At March 25th, Elon tweeted a poll asking his followers if they thought that the company adheres to the principle of free speech. After 70% answered no, he asked if there was a need for a new platform and said he was giving it some thought to launch his own social media application.
Free speech is essential to a functioning democracy.
Do you believe Twitter rigorously adheres to this principle?
— Elon Musk (@elonmusk) March 25, 2022
And all the way back in December when Twitter announced that Agrawal was taking over from Dorsey as CEO. It was a edited picture of Agrawal as the Soviet dictator Joseph Stalin and Dorsey as Soviet secret police head Nikolai Yezhov being pushed into a river.
What does this mean for the future of Twitter? Analyst Dan Ives believes that this might lead to a “more aggressive ownership role.”