Musk’s high stakes in Twitter may lead to buy-out

Tesla and SpaceX founder Elon Musk now owns 9.2 per cent of Twitter after purchasing $2.89 billion worth of Twitter’s stock.

Musk earlier conducted a poll among his followers, and the majority supported his drive to found a the platform whose free speech policy is more relaxed than Twitter’s and Facebook’s.

This came after the recent criticism by Musk over the social media site’s free speech policies.

“Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy,” he said then.

The mainstream media believe he is one of the abusive users of social media, considering is influence on the more than 80 million users following him.

His tweets have impacted stock market, cryptocurrency markets, and even politics over the years.

In 2018 he tweeted that he had “funding secured” to take Tesla private at $420 a share, setting off an SEC lawsuit that cost him $20 million and his spot as chairman of the board.