How exactly is owning a 9% share of Twitter stock a “passive” stake? Isn’t there still 91% of Twitter owned by others?
Why do this?
Not enough to get any directors elected?
But surely enough to earn him a quick profit for today. Maybe instructed to buy so as to restore the “credibility” and value of our intel agency and others’ investment in the mass influence property?
Yes but does any one individual own 9% or more of of Twitter? I don't know.
9% so far....and it's probably enough to land him a seat on the Board of Directors.
Hedge funds are the biggest shareholders.now probably over 50 percent is owned by 5 or six groups
If he can get a load of the 91% with him they can change everything
It’s passive stake because it’s not a controlling amount, i.e. 51%. But his 9.2% is tied with Morgan Stanley as largest shareholder and I have to wonder if Musk has funds there or personal influence. I don’t think it will be very hard for him to put together a majority coalition.
He’s bought himself a very big stick to beat the wokesters with.
9 percent is a big enough stake to get the boards attention and he can tender for more
It’s significant
It’s impossible to acquire a majority stock ownership through market purchases
I’d imagine majority is institutionally owned
Passive and Active are SEC designations for ownership of large blocks, as I understand it - there are specific rules for each category