What auspicious timing! Last Friday, Revolver called for Elon Musk to ignite the “Battle of the Century” and declare war on the American regime by buying and remaking its favorite propaganda outlet, Twitter. Now, on Monday, the news broke that Musk has purchased a 9.2% stake in the company, making him its single-largest shareholder:
Musk owns 73,486,938 shares of Twitter, which represents a 9.2% passive stake in the company, according to a Securities and Exchange Commission 13G filing released Monday. The stake is worth $2.89 billion, based Twitter’s closing price Friday.
The purchase comes less than two weeks after Musk criticized the company, polling people on Twitter about whether it adheres to free speech principles. “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy,” Musk tweeted. “What should be done?” [CNBC]
Musk’s new stake is four times the size of Twitter founder Jack Dorsey’s. It’s more than twice the size of the stake held by Elliott Management, the Paul Singer-founded hedge fund that forced out CEO Jack Dorsey last year. Initially, Musk said he planned to file SEC paperwork as a passive stakeholder in the company, but just one day later, he reversed course completely, filing an SEC 13D form reserved for active investors, while Twitter announced Musk will become one of twelve members of Twitter’s board of directors. Read more…