According to a Securities and Exchange Commission 13G filing issued on Monday, April 4, 2022, Elon Musk owns 73,486,938 shares with a 9.2% passive stake in the Twitter company.
A regulatory 13G filing on Monday, April 4, 2022, revealed that Elon Musk had bought a 9.2% stake on March 14, making him the largest individual shareholder in the company.
Vanguard Group holds an 8.8% stake, Morgan Stanley holds 8.4% and Twitter co-founder Jack Dorsey holds a 2.2% stake.
This led to a more than 27% increase in Twitter’s stock price and the stock’s biggest intraday increase since the Twitter company’s 2013 initial public offering.
Elon Musk offers to buy Twitter for $43 billion
Elon Musk is a frequent user of Twitter and has more than 80 million followers on the platform, and Elon Musk bought the company’s stock less than two weeks after he criticized the Twitter company.
Elon Musk was questioning Twitter’s approach to free speech through a poll conducted on his Twitter account on Friday, March 25, 2022. Elon Musk got people to vote on Twitter about whether Twitter adheres to free speech principles.
Free speech is essential to a functioning democracy.
— Elon Musk (@elonmusk) March 25, 2022
Do you believe Twitter rigorously adheres to this principle?
Elon Musk tweeted the following day on Saturday, March 26, 2022, before publicly asking whether a “new platform” was needed.
On 5 April 2022, Twitter CEO (Chief executive officer) Parag Agrawal said that Elon Musk will join the company’s board. But on April 11, 2022, again said that Elon Musk would not join the board of Twitter.
Elon Musk offered to acquire Twitter’s remaining common stock at $54.20 per share, saying it needed to be turned into a private company to create a platform for free speech.
Elon Musk made an offer to Twitter’s board chairman Bret Taylor and offered to buy Twitter shares at $54.20 per share, which he tweeted on April 14, 2022, and wrote “I made an offer”.
I made an offer https://t.co/VvreuPMeLu
— Elon Musk (@elonmusk) April 14, 2022
Elon Musk is saying that he wants to privatize Twitter and has valued it at around $43 billion.
Late night, Twitter also confirmed that this proposal has come from Elon Musk and we are reviewing it carefully and will take the decision whichever is in the best interest of the shareholders and the company.
According to reports, Elon Musk currently has the highest wealth of around $260 billion and Twitter’s market valuation is currently at $37 billion, while Elon Musk is offering to buy the entire Twitter for $43 billion.
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FAQs about Twitter
According to a Securities and Exchange Commission 13G filing issued on Monday, April 4, 2022, Elon Musk owns 73,486,938 shares with a 9.2% passive stake in the Twitter company.
Elon Musk had bought a 9.2% stake on March 14, making him the largest individual shareholder in the company. Vanguard Group holds an 8.8% stake, Morgan Stanley holds 8.4% and Twitter co-founder Jack Dorsey holds a 2.2% stake.
According to reports, Twitter’s market valuation is currently at $37 billion, while Elon Musk is offering to buy the entire Twitter for $43 billion.