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Musk’s ‘Passive’ Twitter Stake Starts With Poll on Edit Button

  • Billionaire opted against active investment path -- for now
  • Twitter’s new biggest holder is ‘a thunder cloud walking in’
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WATCH: Elon Musk’s purchase of a passive stake in Twitter sent shares of the social media platform soaring. Ed Ludlow reports.Source: Bloomberg
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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 U.S. 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.