Elon Musk Buys A 9.2 Percent Stake In Twitter Following A Free Speech Poll

Elon Musk Changes
Elon Musk Changes "Twitter" Signage To "Titter" At Its San Francisco Head Office

According to a Securities and Exchange Commission filing, Elon Musk purchased 73,486,938 unit shares of Twitter common stock, accounting for 9.2 percent of total common stock issuance. Using the filing date of March 14, 2022, this values the purchase at $2.74 billion.

Musk, the world’s richest billionaire and a Dogecoin enthusiast, conducted a Twitter poll near the end of March 2022, which resulted in this purchase announcement. Musk took to Twitter on March 24th to conduct a poll about whether or not the Twitter algorithm should be open source.

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The next day, he conducted another poll, this time asking whether Twitter strictly adheres to the principle of free speech as essential to a functioning democracy. He then made a comment about his free speech poll, saying, “The results of this poll will be significant.” Please vote with care.”