Elon Musk Buys 9.2 Percent of Twitter After Saying Its Failure to Uphold Free Speech Tenets ‘Undermines Democracy’

Twitter may be about to become a less hostile platform for conservatives.

Elon Musk, the richest man in the world, has purchased a huge stake in Twitter stock, making him its largest outside shareholder, CNBC reported.

Musk owns 73,486,938 shares of Twitter, which represents a 9.2% passive stake in the company, according to a Securities and Exchange Commission 13G filing released Monday. The stake is worth $2.89 billion, based Twitter’s closing price Friday.

“Oh hi lol.” Musk tweeted after his massive purchase hit the news.

The move comes less than two weeks after the Tesla CEO tweeted that Twitter was “undermining Democracy” due to its failure to uphold the principles of free speech.

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

Many conservatives, like South Korean commentator Kangmin Lee, encouraged Musk to use his purchasing power to rectify the situation.

Just buy Twitter, bro,” Lee tweeted.

In recent years, alternative social media platforms have emerged, such as Parler, GAB, Telegram, Gettr, and Truth Social, that allow conservatives to express facts and opinions that oppose ruling class narratives without the fear of being deplatformed. However, because those platforms cater to people on the right, liberals dismiss them as “disinformation” outlets, and many conservatives consider them to be little more than echo chambers.

Twitter attracts people from all ideologies, making it a battlefield of ideas where the issues of the day can be debated. This is why it has remained an attractive platform for conservative activists, who would like to see it reformed.

“Musk could try to take a more aggressive stance here on Twitter,” Wedbush analyst Dan Ives said Monday on CNBC’s “Squawk Box.” “This eventually could lead to some sort of buyout.”

Ives added: “This makes sense given what Musk has at least been talking about, at least from a social media perspective.”

In the wake of Musk’s purchase, Twitter stock has surged more than 26 percent.

Late last month, Musk, who has more than 80 million followers on Twitter, also tweeted that he was thinking about building an alternative social media platform that respects free speech rights.

 

Now that Musk is Twitter’s largest shareholder, conservatives are hoping that users who were banned, including former President Trump, will be reinstated on the platform.

Some users had a “to do list” for Musk, that include ending Twitter’s practice of censoring and “shadowbanning” conservative accounts.

About Debra Heine

Debra Heine is a conservative Catholic mom of six and longtime political pundit. She has written for several conservative news websites over the years, including Breitbart and PJ Media.

Photo: Elon Musk gestures as he speaks during a press conference at SpaceX's Starbase facility near Boca Chica Village in South Texas on February 10, 2022. - Billionaire entrepreneur Elon Musk delivered an eagerly-awaited update on SpaceX's Starship, a prototype rocket the company is developing for crewed interplanetary exploration. (Photo by JIM WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images)

Support Free & Independent Journalism Your support helps protect our independence so that American Greatness can keep delivering top-quality, independent journalism that's free to everyone. Every contribution, however big or small, helps secure our future. If you can, please consider a recurring monthly donation.

Want news updates?

Sign up for our newsletter to stay up to date.

Comments are closed.