American billionaire Elon Musk became the largest shareholder of Twitter, having bought 9.2% of the social network’s securities for $2.89 billion. CNBC.
Amid news of the deal, Twitter shares rose 25%.
Musk will serve on the company’s board of directors for a two-year term. During this period, his Twitter share cannot exceed 14.9%.
The purchase followed Musk’s criticism of the social media’s free speech policy.
Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy.
What should be done? https://t.co/aPS9ycji37
— Elon Musk (@elonmusk) March 26, 2022
“Given that Twitter serves as a kind of city square, failure to respect the principles of free speech fundamentally undermines democracy,” he wrote.
Along with the comment, Musk launched a poll: “Do you think Twitter is strictly adhering to this principle [свободы слова]? More than 70% of the 2 million participants who voted answered in the negative.
Free speech is essential to a functioning democracy.
Do you believe Twitter rigorously adheres to this principle?
— Elon Musk (@elonmusk) March 25, 2022
Previously, Musk has repeatedly called on the developers of the social network to open the source code of the algorithms that form the home feed of the site.
The algorithm needs to be open source
— Elon Musk (@elonmusk) March 24, 2022
He also mulled over the idea of creating his own platform, “thinking it seriously”.
Recall that in January, Musk criticized Twitter for integrating NFT.
That same month, the billionaire vowed to stop the machines from rising.
In March, Musk included artificial intelligence in Tesla’s global development strategy. Subscribe to Cryplogger AI at TikTok!
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