![Elon Musk buys large stake in Twitter, sending stock soaring](https://www.berlinertageblatt.de/media/shared/articles/07/c4/c8/Elon-Musk-buys-large-stake-in-Twitt-990604.jpg)
-
Trump offers tech sector policy flips ahead of election
-
Spacecraft to swing by Earth, Moon on path to Jupiter
-
What's the fallout of Mexican drug lords' capture?
-
Video game makers see actors as AI 'data,' says union on strike
-
Chinese qualifier Shang to face Thompson in ATP Atlanta semis
-
Concern grows as Venezuela blocks election observers
-
'Massive attack' on French rail threatens more chaos
-
'We did it!': France breathes sigh of relief after Olympics ceremony
-
Blinken, in Laos, set for talks with Chinese foreign minister
-
Regional concern grows as Venezuela blocks vote observers
-
Historic river parade, Dion show-stopper ignite Paris Olympics
-
Rainy Paris Olympic parade dampens many spectators' spirits
-
G20 pledges to work together to tax ultra-rich
-
The one of a kind Paris opening ceremony: five memorable moments
-
Justin Timberlake seeks to dismiss DUI case
-
Warner Brothers Discovery sues NBA over Amazon rights deal
-
Kobe Bryant locker, Maradona jersey up for auction in New York
-
Historic river parade launches Paris Olympics
-
Stocks rise as US inflation data boosts rate cut hopes
-
New York family of Holocaust victim reclaims Nazi-looted art
-
NASA Mars rover captures rock that could hold fossilized microbes
-
Thousands evacuate season's biggest wildfire in northern California
-
Sinaloa Cartel co-founder pleads not guilty after stunning US capture
-
Ethiopia mourns victims of landslide tragedy
-
Lady Gaga adds sparkle to star-studded Olympic show
-
Airbus and Boeing supremacy secure despite turbulence
-
Teams sail down Seine in rain-soaked Olympics opening ceremony
-
Norris hoping for more after topping Belgian practice times
-
West Indies' treble strike rocks England in third Test
-
Trump slams rivals as he meets Netanyahu in Florida
-
Olympic opening ceremony under way on River Seine
-
Mott's England future uncertain as ECB chief fails to offer support
-
Trump meets Israeli PM Netanyahu in Florida
-
S.African police say 95 Libyans detained at suspected military camp
-
Blinken set for talks with Chinese counterpart in Laos
-
Norris heads Piastri in McLaren one-two at Belgian GP practice
-
G20 seeks common ground on taxing super-rich
-
European medicines watchdog rejects new Alzheimer's drug
-
Harris gets vital Obama backing in battle against Trump
-
Habib, Ebden eye Alcaraz and Djokovic shocks at Olympics tennis
-
Stocks rise as inflation data boosts rate cut hopes
-
Long queues, ticketing problems ahead of Paris opening ceremony
-
Two Sinaloa Cartel leaders face US charges after stunning capture
-
Spain train driver jailed for 2.5 years over deadly 2013 crash
-
Paris poised for Olympic opening ceremony spectacular
-
Judoka fails doping test in first case at Paris Olympics
-
Holder and Da Silva keep England at bay after West Indies collapse
-
Alpine F1 boss Bruno Famin to leave in August
-
Ethiopia declares three days of mourning after landslide tragedy
-
Brazilian dunes dotted with dazzling pools make UNESCO heritage list
![Elon Musk buys large stake in Twitter, sending stock soaring](https://www.berlinertageblatt.de/media/shared/articles/07/c4/c8/Elon-Musk-buys-large-stake-in-Twitt-990604.jpg)
Elon Musk buys large stake in Twitter, sending stock soaring
Elon Musk has taken a major stake in Twitter, regulatory filings showed Monday, sending the social media network's stock soaring and igniting speculation he could seek an active role in its operations.
Musk, the world's richest man and CEO of electric vehicle company Tesla, is a frequent Twitter user who often posts controversial messages and announcements, and has long been critical of social media companies.
In one recent post he questioned Twitter's adherence to free speech and hinted at launching his own platform.
According to a document filed with the US Securities and Exchange Commission (SEC), the South African-born billionaire acquired nearly 73.5 million Twitter shares -- a 9.2 percent stake in the company.
Based on Friday's closing price of the company's stock, his investment amounts to nearly $2.9 billion.
Investors responded quickly. At 7.15 am in New York (1115 GMT) Twitter's stock was trading at about $49, up by around 26 percent.
"We would expect this passive stake as just the start of broader conversations with the Twitter board/management that could ultimately lead to an active stake and a potential more aggressive ownership role of Twitter," analysts Daniel Ives and John Katsingris of Wedbush wrote in a note.
Musk launched a poll on Twitter on March 25, saying "free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?"
More than two million people voted in the poll, with over 70 percent saying "no."
"Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?" he continued the next day.
"Is a new platform needed?"
"Just buy twitter," was one of the first responses from tens of thousands of users.
- Musk, Twitter and controversy -
Musk has wielded Twitter polls to conduct business before: in November last year he offloaded $5 billion in Tesla shares days after asking fellow social media users if he should sell 10 percent of his stake.
In summer 2018 Musk published a tweet where he claimed that he had the appropriate funding to take Tesla private, without providing proof.
The tweet caused a brief spike in Tesla's share price but the SEC said the statements on Twitter were "false and misleading."
The mogul then agreed that any tweets capable of moving Tesla's share price would be screened by lawyers, as part of a deal that saw him pay $20 million to settle a fraud case brought by the SEC.
Then in early March, Musk asked a New York judge to overturn the agreement with the stock market watchdog on his tweets.
His lawyer said the dispute with the SEC was "yet another attempt to harass Tesla and silence Mr Musk."
Musk has also used Twitter to court controversy away from the business world: in March he challenged Russian President Vladimir Putin to a fight, with the fate of Ukraine at stake; and in February he drew condemnation for a tweet comparing Canadian leader Justin Trudeau to Adolf Hitler.
G.Schulte--BTB