Elon Musk now owns a 9.2% stake in Twitter Inc., making him the platform’s biggest shareholder. The stake’s worth is about $2.89 billion.
Elon Musk now owns a 9.2% stake in Twitter Inc., making him the platform’s biggest shareholder. The stake’s worth is about $2.89 billion, based on the market close on Friday. The information was revealed in the Securities and Exchange Commission 13G filing released on Monday. It details that the stake purchase occurred on the 14th of March, which gives Musk 73,486,938 shares of Twitter. It resulted in the Twitter shares surging to about 26% in premarket trading. The revelation was made after the entrepreneur and business magnate criticized Twitter less than two weeks ago. In his post, Musk says, “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy.
