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Elon Musk bought Twitter


				07.04.2022
						Entrepreneur Elon Musk owns more than 9.2% of the shares of the microblogs service Twitter now. This became known from the database of the U.S. Securities and Exchange Commission. Earlier, Elon Musk was often complaining about the infringement of freedom of speech on the platform and thinking about the possibility of creating a new social network.

The billionaire purchased a package of 73.48 million shares of Twitter on 14th of March. According to CNBC, the purchase could cost more than $2.89 billion. Musk has become Twitter's largest outside shareholder. Twitter shares on the background of this news rose by 25%, to 49.40 $ for a share.

The businessman will become member of the board of directors of Twitter in the nearest 90 days. The report clarifies that Musk will be appointed a member of the board of directors as a Class II director with a term of office expiring at the company's annual shareholders' meeting in 2024. At the same time, while the Mask will be in the board, he will not be able to be the owner of more than 14.9% of the shares.

Link to source: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001418091/000119312522095651/d342257d8k.htm

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