Elon Musk

Tesla CEO Elon Musk has taken a 9% stake in Twitter to become its largest shareholder after raising questions about the social media platform's dedication ...

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SEC filing reveals Tesla chief holds 9.2% stake in social media group.

Tesla founder Musk is yet to explain why he has built such a big holding in Twitter, particularly as he was recently critical of the platform's approach to ...

The agreement forces him to have his tweets about Tesla pre-approved by a lawyer to avoid breaking rules around the disclosure of market sensitive information. His legal team has accused the body of trying to curtail Musk's right to free speech. His stake is considered a passive investment which signals he has no demands on a larger slice of the company.

Musk has recently hinted he might shake up the social media industry. Elon Musk Photographer: Getty Images/picture alliance. Telsa CEO Elon Musk, 50, polled his ...

The company has set ambitious revenue and user growth goals to convince skeptical investors that it was serious about expanding its business. The type of form used often indicates the investor isn’t seeking to acquire control of a company, or to influence who controls it. The announcement will be yet another major test for new Twitter CEO Parag Agrawal, who replaced Jack Dorsey after he unexpectedly resigned in November. Agrawal vowed to increase accountability, make decisions faster and to improve product execution. The Tesla Inc. chief executive officer is currently seeking to exit a 2018 deal with the U. S. Securities and Exchange Commission that put controls in place related to his tweeting about the electric-car maker. Musk, 50, polled his more than 80 million followers on Twitter last month, asking them whether the company adheres to the principles of free speech. The gain marked the stock’s biggest intraday increase since its first day of trading following the company’s 2013 initial public offering.

The Tesla billionaire has become Twitter's biggest shareholder, setting up a potential confrontation between him and the company's new CEO.

Most prominently, Musk and Tesla had to agree to some limits around his Twitter presence in 2018 after Musk tweeted about his intentions to take Tesla private, a suggestion he said he made in jest. The tweet raised questions about whether Musk is following his agreement with the SEC—and whether the poll was really a PR stunt, with Musk having previously decided to sell the stock regardless of its result. “And I've heard equally goodarguments to me that he's kind of already accomplishing what he wants,” turning up the pressure on Twitter management just with his putatively passive shareholding. Elliot disliked that Dorsey had two jobs, one running Twitter and one running Block, the payments company formerly known as Square. The company hopes to reach 315 million active users and $7.5 billion in revenue by the end of 2023, substantially higher than its current figures. Elon Musk, the billionaire Tesla and SpaceX founder, has accumulated a 9.2% stake in Twitter, making him the company’s largest shareholder, according to a new SEC filing.

Musk's stake in Twitter is considered a passive investment, which means Musk is a long-term investor that's looking to minimize his buying and selling of the ...

Musk's revelation about his stake in Twitter shares comes two days after Tesla Inc. posted first-quarter delivery numbers. Early last month, Musk asked a federal judge to nullify a subpoena from securities regulators and throw out a 2018 court agreement in which Musk had to have someone pre-approve his posts on Twitter. U. S. securities regulators said they had legal authority to subpoena Tesla and Musk about his tweets, and that Musk’s move to throw out a 2018 court agreement that his tweets be pre-approved is not valid. Musk told is more than 80 million followers on Twitter that he was “ giving serious thought " to creating a rival social media platform and has clashed repeatedly with financial regulators about his use of Twitter.

Republicans are asking Elon Musk to reinstate former President Donald Trump's Twitter account after the Tesla founder became the majority shareholder in the ...

Yet the freedom of speech restored will enable us all to defeat them.” Step three - end all forms of political and other censorship.” “Will the new majority shareholder return freedom of speech to Twitter?” Georgia Republican Marjorie Taylor Greene asked.

The ultimate aim of Musk's $2.9 billion share purchase is not clear. Yet in recent weeks Musk has questioned free speech on Twitter and whether the platform ...

SEC attorney Melissa Armstrong called Musk's challenge "frivolous," and pointed out that Musk and Tesla agreed to have his tweets pre-approved by other company officials. But some of the money could have been used to buy the Twitter stake. They seek all written communications concerning the Nov. 6 tweets and whether they were shown to Tesla lawyers for pre-approval. The SEC disclosed that it is investigating Musk's Nov. 6, 2021 tweets that asked followers whether he should sell 10% of his Tesla stake. Early in March, Musk asked Judge Alison Nathan to nullify an SEC subpoena and throw out the settlement agreement. The ultimate aim of Musk's 73.5 million share purchase worth $2.9 billion, based on the closing price Friday, is not clear.

The Tesla chief snapped up 73 million shares weeks after questioning the social media platform's commitment to free speech.

“Defending against the SEC’s action through protracted litigation was not in the interests of the company and its shareholders. “Tesla was a less mature company and the SEC’s action stood to jeopardize the company’s financing,” Musk said in a recent legal filing. Though the shareholders did not win in their 2020 campaign to oust Dorsey, his surprise announcement that he was stepping down last December was viewed as a win for shareholders wanting to make Twitter a less chaotic place. Musk sold billions worth of Tesla shares in 2021, making much of his wealth — previously tied up in Tesla stock — liquid for the first time. Supporters of former president Donald Trump, who have attacked Twitter for permanently banning him and other allies, praised Musk on Monday, with some saying that he should force the company to reinstate Trump’s account. Some worried that the freewheeling Musk, who has promoted misinformation about the coronavirus and decried “censorship,” would push Twitter in a libertarian direction, away from blocking or restricting accounts that cause social harm.

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When Elon Musk disclosed his stake in Twitter Inc., he had a choice. Shareholders who intend to remain “passive” -- those who don't seek to influence or ...

The rule applies to anyone acquiring 5% or more of a public company’s stock. Shareholders who intend to remain “passive” -- those who don’t seek to influence or change control of a company -- file a shorter form with the U. S. Securities and Exchange Commission, called a 13G. Those angling for board seats or seismic shakeups typically file a longer and more in-depth form, a 13D, within 10 days of buying their stake.

Tesla CEO, Elon Musk, acquires 73 million shares or a 9.2% passive stake in Twitter.

However, the SEC has been unable to conclusively affirm that any of Musk's tweets fall under the jurisdiction of that rule. According to this rule, any tweet that contains information that should have been disclosed through an SEC filing, such as a 10-K or 10-Q, must be cleared in advance. In 2018, the SEC found that Musk's disclosure controls and procedures were inadequate, as his tweets about taking the shares private were found to have moved the stock price.

Musk did not disclose what he paid for the shares, but his stake was worth $2.9 billion as of the close of trading Friday, and $3.5 billion after the spike ...

The Tesla boss could lose focus on the day job if he gets sucked into disputes about social media and free speech.

In the circumstances, switching to a formal sale process, which means not being tied by standard bid timetables, is a legitimate way to proceed. If none of the bids is outright compelling, the directors should not be afraid to say no. Sales were up 35% last year and damage to the brand seems minimal. The independent directors of Tesla are never likely to curb Musk’s extracurricular activities, particularly this one: the boss’s high public profile has saved the company a fortune in advertising dollars over the years. One would have involved drift and more profits warnings – we’ve seen that script in the fashion industry a few times after founders go. The near $3bn (£2.3bn) purchase has been structured as a passive investment, yet one doubts Musk intends to buy and hold for eternity.

Elon Musk has polled his 80 million followers about whether they'd like to be able to edit their tweets, after becoming Twitter's biggest shareholder.

Twitter’s former CEO Jack Dorsey said that the company would “probably never” add an edit button in an interview in early 2020. The so-called “edit button” has been one of the most commonly requested features of the social media platform. Twitter’s new CEO Parag Agrawal subsequently quote-tweeted Musk’s poll to say that “The consequences of this poll will be important.

Twitter CEO Parag Agrawal retweeted Musk and urged people to “vote carefully” as the consequences “will be important.” Musk posted the poll just hours after his ...

"Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy," Musk tweeted March 26. On April 1, or April Fools' Day, Twitter tweeted a message through its official account saying that it was working on an "edit" button. The rise comes hot on the heels of Twitter's best day of trading since its IPO in 2013, with shares surging over 27% on Monday.

The immutable quality of posts on Twitter has been a hallmark of the platform ever since its launch in 2006 despite recurrent if muted requests for change.

Twitter's new chief executive, Parag Agrawal, quoted the post and said: "The consequences of this poll will be important. It is not clear whether the poll was a genuine request for policy feedback or simply a joke. His stake is considered a passive investment which signals he has no demands on a larger slice of the company - although analysts have cautioned it could ultimately lead to Musk becoming more involved with the running of the business.

The appointment comes after the billionaire entrepreneur and meme poster asked Twitter users whether they wanted an edit button for tweets.

Twitter's new chief executive, Parag Agrawal, quoted the post and said: "The consequences of this poll will be important. It is not clear whether the poll was a genuine request for policy feedback or simply a joke. Welcome Elon!"

“Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board,” CEO Parag Agrawal said in a tweet.

It's "time to get out the popcorn and watch the developments over the coming months with Musk on the Board," he said. Musk is an avid Twitter user with more than 80.5 million followers on the platform. Hours after his holding in the company was revealed, Musk took to Twitter to poll users on interest in an edit button. Musk said in a tweet. After the stake was revealed on Monday, investors pushed the stock up 27%, the mark its best day since its IPO. He added that he was considering building a new social media platform.

Elon Musk is getting a seat on Tesla's board of directors after purchasing a 9.2 percent stake in the company. His term as a board member will run into ...

As noted by CNBC, Musk’s investment could set off more issues with the SEC. The SEC requires anyone with more than a 5 percent stake in the company to disclose their purchase within 10 days. Musk has butted heads with the SEC several times over the content in his tweets. “For so long as Mr. Musk is serving on the Board and for 90 days thereafter, Mr. Musk will not, either alone or as a member of a group, become the beneficial owner of more than 14.9% of the Company’s common stock outstanding at such time, including for these purposes economic exposure through derivative securities, swaps, or hedging transactions.” In a pair of tweets, Twitter CEO Parag Agrawal confirmed Musk’s new role on the board. On Monday, Musk announced via an SEC filing that he’d purchased a 9.2 percent stake in Twitter, despite his complaints about free speech on the platform. This is a type of position that can be used as an anti-takeover measure.

Retail investors helped fuel record trading volume for Twitter, with more than 260 million shares changing hands earlier this week, after Mr Musk disclosed a ...

Retail investors helped fuel record trading volume for Twitter, with more than 260 million shares changing hands earlier this week, after Mr Musk disclosed a 9.2% stake in the social-media company. The shares have tumbled from their 2021 record as investors baulked at a combination of a high valuation and potentially disappointing user growth. Retail investors helped fuel record trading volume for Twitter, with more than 260 million shares changing hands earlier this week, after Mr Musk disclosed a 9.2% stake in the social-media company.

After becoming Twitter's largest shareholder, Elon Musk, Tesla's chief executive, is joining the company's board of directors.

The news sent Twitter’s shares skyrocketing more than 20 percent on Monday. Mr. Musk had been quiet on his intentions for the purchase, which was worth about $2.9 billion before it was disclosed but has risen sharply in value since. Twitter’s stock rose more than 6 percent in premarket trading on Tuesday after the news of Mr. Musk’s board appointment.

Tesla and SpaceX boss becomes social media platform's biggest shareholder with 9.2%

Musk settled with the SEC, paying a $20m fine and stepping down as Tesla’s chair, while saying it was “harassment” and an “unjustified action”. “Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our board,” he said in a tweet. In pre-market trading on Tuesday the shares were up 7% to just under $50, valuing the company at about $40bn.

Billionaire businessman Elon Musk will join Twitter's board of directors, an announcement that came just hours after news broke that the Tesla and SpaceX ...

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