(Reuters) – Tesla Inc Chief Executive Officer Elon Musk has constructed a 9.2% stake in Twitter Inc, a regulatory submitting confirmed on Monday, sending the micro-blogging web site’s shares hovering 16% in premarket buying and selling.
Late March, the silicon valley billionaire stated he was giving “severe thought” to constructing a brand new social media platform.
Musk was responding to a Twitter person’s query on whether or not he would take into account constructing a social media platform consisting of an open supply algorithm and one that may prioritize free speech and the place propaganda was minimal.
Musk, a prolific person of Twitter himself, has been vital of the social media platform and its insurance policies of late. He has stated the corporate is undermining democracy by failing to stick to free speech rules.
(Reporting by Nivedita Balu in Bengaluru; Editing by Anil D’Silva)
