DARREN BEATTIE: Here’s the Blueprint Elon Musk Should Follow to Make Twitter Great Again

What auspicious timing! Last Friday, Revolver called for Elon Musk to ignite the “Battle of the Century” and declare war on the American regime by buying and remaking its favorite propaganda outlet, Twitter. Now, on Monday, the news broke that Musk has purchased a 9.2% stake in the company, making him its single-largest shareholder:

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.

The purchase comes less than two weeks after Musk criticized the company, polling people on Twitter about whether it adheres to free speech principles. “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?” [CNBC]

Musk’s new stake is four times the size of Twitter founder Jack Dorsey’s. It’s more than twice the size of the stake held by Elliott Management, the Paul Singer-founded hedge fund that forced out CEO Jack Dorsey last year. Initially, Musk said he planned to file SEC paperwork as a passive stakeholder in the company, but just one day later, he reversed course completely, filing an SEC 13D form reserved for active investors,  while Twitter announced Musk will become one of twelve members of Twitter’s board of directors.

 

Certainly, being a passive stakeholder in the world’s primary speech platform would be lame, and unworthy of Musk.

Elon’s term on the board runs through 2024. As long as he serves on the board, and for 90 days after he leaves, his personal stake in Twitter is capped at 14.9%, meaning that he cannot bid for a full takeover for the time being. Still, as a board member, Musk gets one of twelve votes for the position of CEO and other senior leadership posts. He’ll also have a direct voice on executive compensation, dividends, and other financial matters for the company. Importantly, as a board member, Musk has a fiduciary duty to Twitter stockholders: All his actions must be carried out for the good of Twitter.

What now? Musk hasn’t said much yet. His first tweet since joining the board simply polled users on whether to add an edit button. But far bolder options are available. Musk is now the single most dominant force on the world’s most important speech platform. This is not a position to waste, and Musk is certainly not the kind of man to waste golden opportunities.

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About the Author: NC Scout

NC Scout is the nom de guerre of a former Infantry Scout and Sergeant in one of the Army’s best Reconnaissance Units. He has combat tours in both Iraq and Afghanistan. He teaches a series of courses focusing on small unit skills rarely if ever taught anywhere else in the prepping and survival field, including his RTO Course which focuses on small unit communications. In his free time he is an avid hunter, bushcrafter, writer, long range shooter, prepper, amateur radio operator and Libertarian activist. He can be contacted at brushbeater@tutanota.com or via his blog at brushbeater.wordpress.com .

2 Comments

  1. Not So Free April 9, 2022 at 18:47

    The number two and three are Vanguard and Blackrock, I forget which order.
    They are also the number two and three holders of Tesla stock.
    hmmm.

    • NC Scout April 9, 2022 at 19:21

      Funny, that.

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