Jim Watson | AFP | Getty Images Tesla CEO Elon Musk has been buying Twitter shares on an almost daily basis since the end of January, spending $ 2.64 billion on his current stake in the company, according to a SEC statement on Tuesday. The revelation was made through a 13D deposit, which confirms that Musk intends to be more active in Twitter business. On Monday, the company reported that Musk owned 9.2% of the company, but this was done through a 13G deposit, which shows a passive stake for a holder who is not trying to exercise control or influence. Tuesday’s statement said it holds 73,115,038 Twitter shares, or 9.1% of the company. At the close of trading, these shares were worth $ 3.73 billion. Musk crossed the 5% threshold on March 14. The change to becoming an active investor follows the announcement by Twitter and CEO Parag Agrawal on Tuesday that the company will appoint Musk to its board of directors. Musk, according to the latest testimony, buys shares in the social networking company he prefers from January 31 and is extended until April 1. The biggest purchase was on February 7, when it bought more than 4.8 million shares worth $ 176 million. Shares of Twitter closed at a one-year low on March 7, at $ 32.42. They finished in January at $ 37.51. As long as Musk serves on the board, or 90 days later, he can not hold more than 14.9% of Twitter shares, either as an individual or as a member of a group, according to Monday’s statement. Minutes after Musk’s file appeared on the Internet, Twitter said it would test “editability” that had been working since last year in the coming months. On Monday, Musk posted a poll on Twitter asking if users “want an edit button,” a long-standing request among account holders. Of the 4 million respondents, 74% voted yes. On March 25, before Musk revealed his Twitter account, he asked tens of millions of followers on the platform: “Freedom of speech is essential for a functioning democracy. Do you think Twitter adheres to that principle?” He also suggested that he create his own social network if followers thought he might need it.
