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A week after announcing the possibility of creating his own social network, the controversial businessman Elon Musk has acquired 9.2 percent of Twitter.
In accordance with Bloombergthe acquisition for a value of $2,900 dollars places him as the largest individual shareholder of the social network, multiplying the 2.25 percent stake held by Jack Dorsey, former CEO and co-founder of the social network.
Twitter shares have risen 26 percent in premarket after the news broke. According to pre-open data from Wall Street, the value of the shares is already at $50 dollars.
In addition to talking about the possible creation of his own social network, Musk, who has 80 million followers on Twitter, asked a few days ago through a survey if users believe that the company adheres to the principles of freedom of expression. . 70 percent of the participants said no.
The purchase of the stake in Twitter comes just when the executive is in full scrutiny by the United States Securities and Exchange Commission (SEC), on his activities in the social network, since according to the agency, could constitute alleged crimes of securities manipulation and conflicts of interest.
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
Musk had to face the courts a couple of years ago for a tweet published in 2018 in which he mentioned an alleged “secured financing”. The message sent the carmaker’s stock price skyrocketing over information that turned out to be false. Musk had to pay a millionaire fine and was removed as president of the company.