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Elon Musk buys over 7 crore shares of Twitter after raising free speech question

Tesla CEO Elon Musk once again grabbed the headline in media reports on Monday for purchasing a giant stake in Twitter.

New Delhi: Tesla CEO Elon Musk once again grabbed the headline in media reports on Monday for purchasing a giant stake in Twitter. The development came a week after Musk criticised Twitter for not upholding free speech on its platform.

Musk purchases 7 crore shares

It is reported that Musk purchased 73,486,938 shares of Twitter. This accounts for 9.2 per cent passive stake in the company. This information was revealed in the filing of the Securities and Exchange Commission 13G on Monday. Musk’s stake in the social media giant makes him the largest outside shareholder. The stake is said to be worth $2.89 billion.

Musk raises question of free speech on March 25

Raising a question about the functioning of Twitter, Elon Musk tweeted, ”Free Speech is essential to a functioning democracy.”

Furthermore, he launched a poll for taking the opinion of people on free speech. ”Do you believe Twitter rigorously adheres to this principle?,” added musk in the tweet.

In another tweet, Musk said, ”The consequences of this poll will be important. Please vote carefully.”

During the poll process, over 2 million netizens participated. The poll result shows that 70.4 per cent of voters voted against Twitter.

After the poll, musk asked people on March 26, ”What should be done?”

”Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy,” tweeted Musk.

In another tweet, Musk again asked, ”Is a new platform needed?”

The new move of Elon Musk shows he is himself backing the social media platform.

Notably, Musk has over 80 million followers on Twitter.