{"id":36944,"date":"2022-04-06T07:36:24","date_gmt":"2022-04-06T11:36:24","guid":{"rendered":"http:\/\/angry.net\/blog2\/?p=36944"},"modified":"2022-12-05T05:22:58","modified_gmt":"2022-12-05T10:22:58","slug":"elon-musk-once-again-puts-his-money-where-his-mouth-is-buys-stake-in-twitter","status":"publish","type":"post","link":"https:\/\/angry.net\/blog2\/?p=36944","title":{"rendered":"Elon Musk once again puts his money where his mouth is, buys stake in Twitter"},"content":{"rendered":"

Good day all. This story is still ongoing, but worth writing about. Elon Musk, who is, on paper, the richest man on Earth, has just bought a large stake in Twitter. This comes after he asked people if they thought that Twitter adhered to the idea of Free Speech. The response was overwhelmingly \u201cNO!\u201d<\/p>\n

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The follow up responses offered suggestions to Mr. Musk. They ranged from building his own platform to buying Twitter. Monday Elon Musk announced that he had just bought 9.2% of the shares in Twitter, making him the largest single shareholder in the company.<\/p>\n

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When the announcement came out, the crowd, as they say, went wild. The stock price went up and the progressives heads went \u201cPOP!\u201d Here are some of the early details from Post Millennial<\/b><\/a>:<\/p>\n

Elon Musk has become one of the largest shareholders in social media giant Twitter after a filing with the Security and Exchange Commission showed he holds 9.2 percent of a stake in the company. <\/b><\/p>\n

This comes after it was rumored<\/a> that Musk might be in the market to buy Twitter and secure the holding for free speech in America, following CEO Parag Agrawal’s claim that Twitter is not beholden to American free speech laws<\/a>. <\/b><\/p>\n

That statement by Agrawal was back in November after Jack Dorsey stepped down from the role of CEO. Dorsey had been, (and continues to be), hammered over Twitler\u2019s blatant suppression of conservatives or anything that doesn\u2019t support the Progressive viewpoint. When Argrawal took over, he basically threw down the gauntlet and told the United States that as far as he was concerned, Twitter could do whatever it liked, and has proceeded to do so.<\/p>\n

Musk said in March that he was “giving serious thought<\/a>” to building an alternative social media platform to Twitter. In response to a question from another Twitter user about if Musk would consider building out a new platform, the Tesla and Space X founder said “Am giving serious thought to this.” <\/b><\/p>\n

It looks like Musk figured out that it was much easier to just buy an existing property, Twitler, then it would be to build out a new platform from the ground up. This is the view of Fox Business News<\/b><\/a>:<\/p>\n

Elon Musk disclosed a 9.2% stake in Twitter on Monday, sending the company’s stock soaring more than 25%. But some analysts don’t see the Tesla chief executive stopping there. Though the billionaire’s stake in the social media company is considered passive, some Wall Street analysts believe Musk has much more planned for Twitter’s long-term strategy. <\/b><\/p>\n

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While Musk has expressed interest<\/a> in building a rival to Twitter, CFRA Research senior equity analyst Angelo Zino warns that a potential all-out buyout of the company could still be on the table.\u00a0 <\/b><\/p>\n

\u201cWhile a passive stake by Musk won’t change TWTR’s fundamentals, we do think his investment will drive greater interest from consumers,” Zino wrote in a note to clients on Monday. “Musk’s actual investment (less than $3B) is a very small percentage of his wealth and an all-out buyout should not be ruled out.”<\/b><\/p>\n

Actually, Elon Musk would not need to do a complete buyout of all the stock. That would imply he was taking the company private. Instead, all he needs to do is buy 50% plus one share and he now has complete control of Twitter, and that would be far less expensive then trying to buy out all the shareholders. If he did this, some of the fall out would be the removal of the CEO and the current management structure. I could see Musk calling President Trump and asking if he was open to a temporary contract job.<\/p>\n