April 5, 2022
A Statement by Brenda V. Castillo, President & CEO, National Hispanic Media Coalition
Billionaire SpaceX and Tesla founder, Elon Musk, has bought 9.2 percent of
Twitter, of which he will avoid certain Securities and Exchange Commission (SEC) transaction reporting requirements under Section 16 of the Securities and Exchange Act since he owns less than 10 percent. With his filing
with the SEC, Musk yet again exploits his privilege to attempt to circumvent social media content moderation practices.
Being one of the most prominent critics of Twitter’s content moderation efforts, Musk has been frustrated with the platform regulating disinformation, hate, harassment, and conspiracy theories. Musk believes that
“Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy.”
By acquiring such a significant stake in Twitter and joining its Board of Directors, Musk uses his wealth and privilege to circumvent efforts to protect the public from known harms. Marginalized communities will continue to suffer from rampant disinformation and hateful content so that Musk may spew his conspiracy theories
NHMC believes that social media platforms must adequately use their authority to remove disinformation and hate from their platforms. Thus, having Elon Musk become Twitter’s largest shareholder and joining the board of directors concerns our communities deeply.
Yours in the Movement,
Brenda Victoria Castillo
President & CEO
National Hispanic Media Coalition