Elon Musk captures 9.2% of Twitter. Economy – The My News
Tesla founder and CEO, Elon Musk, has indirectly bought a 9.2% stake in technology company Twitter, according to a statement the company sent to the United States Securities and Exchange Commission (SEC). ) announced the entry to the platform a week after the Tesla founder hinted that it could shake up the social media industry.
Shares of Twitter surged nearly 26% in pre-market operations and before Wall Street opened, after they learned of the operation via an official document registered with the stock market regulator.
In particular, Twitter has indicated that the Trust Elon Musk Revocable Trustof which the entrepreneur is the sole beneficiary, has been the buyer of the shares. This makes Musk an indirect owner of the entire stake.
The trust is created with a package of 73.5 million Twitter shares, which represents a 9.2% stake compared to the 800.6 million titles that make up the company’s share capital. At the price at which shares closed last Friday, Elon Musk’s participation is worth $2,888 million (2,624 million euros).
The purchase of this package of shares came a week and a half after Elon Musk asked his millions of followers on Twitter whether they believe the social network adheres to the principle that freedom of expression is essential to democracy. Has been. Two days after the poll results, where most of his followers voted ‘no’, Elon Musk wondered whether a new social network that followed this principle was “essential”.