Tesla CEO Elon Musk buys nearly 10% of Twitter’s stake, becoming the largest shareholder.

Brian Burns / April 03,2022

The US SEC said in its filings that Tesla and SpaceX CEO Elon Musk invested nearly $3 billion in Twitter, holding nearly 10 percent of the social media platform.
According to electrek, the survey found that the vast majority of billionaires own most of their assets linked to their investments in companies such as Jeff Bezos and Amazon and Mark Zuckerberg with Meta (Facebook), and they tend to have stock portfolios. a variety of at least $2,000 – $3 billion
Musk, the richest man in the world but vice versa Musk has always claimed that he is the least invested. The only public stock he invested in him was Tesla’s. which is the company he manages and co-founded He also has some private investments. He’s often in companies he’s directly involved with, such as SpaceX, The Boring Company, and Neuralink. In the past, he’s made small investments in startups like DeepMind, but he hasn’t bothered to make those investments. He commented that those businesses were never an important part of his business… until now.
Recently, Twitter has published a certificate issued by the US SEC, which is required by the SEC rules. If investors take ownership of the company, it will register at more than 5%. Elon Musk acquired 73,486,938 shares of Twitter, valued at about $2.9 billion at the end of Friday, or about 9.2 percent of the company’s total. That equates to more shares than Twitter co-founder Jack Dorsey, who recently resigned as CEO of the company, and more shares than The Vanguard Group, which was previously the largest shareholder. Even if it is a shareholder in the name of the institutionTwitter shares jump 25% on news of Elon Musk sitting as majority shareholder in pre-market trading. Musk’s investment in social media platforms comes just days after he made several comments on Twitter, which he said may have contributed to the launch of the new social platform. But now it appears that he plans to change the structure and systems within the organization.
Tesla CEO Elon Musk is one of the most influential people on Twitter, with over 80 million followers, which he uses as his primary means of communicating with the public. Especially with Dogecoin meme followers, he is regarded as the father of dog meme coins. By raising the policy to develop coins to compete with Bitcoin for faster transactions. and lower fees In particular, the post “To The Moon” tweet caused the price of Dogecoin to skyrocket.
However, because most of Elon Musk’s core assets are tied to businesses in SpaceX and Tesla, last year He sold about 10% of his stake in Tesla to pay taxes after receiving a multi-billion-dollar stock option. which after the transaction and giving some shares to charity Analysts believe Elon Musk has $2,000 to $3 billion in cash left over from the transaction.
Several years ago, Elon Musk became the talk and dig of many news agencies. It has also been criticized by many Americans for tax evasion. Due to the tax measures that he carried out through the legal firm in the name of the company This allows him to pay taxes in his own name for only a few hundred dollars a year. As a result, he was able to evade taxes through loopholes in the law that would pay huge sums of money.

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