Musk’s ‘passive’ Twitter stake starts with poll on edit button

Musk is among Twitter’s most watched users, with more than 80 million followers. Late Monday, he asked them – in a Twitter poll – if they wanted an edit button, a feature that many users of the platform have long requested. — AFP

When Elon Musk disclosed his stake in Twitter Inc, he had a choice.

Shareholders who intend to remain “passive” – those who don’t seek to influence or change control of a company – file a shorter form with the US Securities and Exchange Commission, called a 13G. Those angling for board seats or seismic shakeups typically file a longer and more in-depth form, a 13D, within 10 days of buying their stake. The rule applies to anyone acquiring 5% or more of a public company’s stock.