Elon Musk takes 9% stake in Twitter, shares surge more than 25%
Musk owns 73.5 million Twitter shares, according to a SEC filing
Tesla Inc (NYSE: TSLA) CEO Elon Musk disclos ed a 9.2% stake in Twitter Inc (NYSE: TWTR), worth $2.89 billion.
Twitter’s shares soared more than 25% on Monday after Musk revealed owning shares in the social-media company.
According to a SEC filing on Monday, Musk owns 73.5 million Twitter shares.
Musk, who is an active user of the social media platform, has over 80 million followers and even uses Twitter to make important announcements.
Recently, Musk has been critical of the platform as he asked his followers if they believed Twitter adheres to the principle of free speech using a Twitter poll. Over 70% of the people voted “no” to Musk’s poll.
Twitter named Parag Agarwal, who previously was the Chief Technology Officer, as its new Chief Executive Officer late last year after co-founder Jack Dorsey stepped down from the position.
Musk did not comment on his shares in the company but tweeted on Monday, “Oh hi lol.”
According to the Bloomberg Billionaires Index, Musk has a net worth of $273 billion making him the world’s richest person.
Picture Credits: Reuters
