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<\/p>\nElon Musk has taken a 9.2% stake in Twitter, according to a US securities filing.
\nThe news sent Twitter shares soaring about 25% in pre-market trading.<\/p>\n
The Tesla founder bought 73,486,938 Twitter shares on 14 March, according to the Securities and Exchange Commission.
\nThe stake is worth $2.89bn (\u00a32.20bn), based on Twitter’s closing price on Friday.<\/p>\n
The stake makes him one of the largest shareholders in the company and is more than four times the 2.25% holding of Twitter founder Jack Dorsey.<\/p>\n
Musk is a regular Twitter user with more than 80 million followers, although recently he said he is giving “serious thought” to building a new social media platform.<\/p>\n
Late last month Musk asked his followers whether they thought the social media platform encouraged free speech.<\/p>\n
He regularly uses Twitter to share updates from the companies he owns – including SpaceX and Neuralink. He is also known for sharing memes, adding to his popularity among fans.<\/p>\n
But some posts have drawn controversy.<\/p>\n
Last year he tweeted in response to a claim, made by the head of the UN World Food Programme (WFP), that just 2% of Mr Musk’s wealth could help to solve world hunger.<\/p>\n
In October, Mr Musk said he would sell $6bn in Tesla stock and donate it to the WFP, provided it could describe “exactly how $6bn will solve world hunger”.<\/p>\n
Mr Musk saw the valuation of his Tesla car company surpass a market value of $1 trillion last autumn, making it the fifth such firm to reach the milestone, after Apple, Microsoft, Amazon and Google-owner Alphabet.<\/p>\n
Soon after he took to Twitter to ask users if he should sell a 10% stake in the electric carmaker.
\nMore than 3.5 million Twitter users voted, with nearly 58% voting in favour of the share sale leading to Musk selling around $5bn (\u00a33.7bn) of shares in the firm in Nov<\/p>\n
Source:bbc<\/p>\n
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Elon Musk has taken a 9.2% stake in Twitter, according to a US securities filing. The news sent Twitter shares soaring about 25% in pre-market trading. The Tesla founder bought 73,486,938 Twitter shares on 14 March, according to the Securities and Exchange Commission. The stake is worth $2.89bn (\u00a32.20bn), based on Twitter’s closing price on […]<\/p>\n","protected":false},"author":8,"featured_media":18908,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"","_post_source_url":"","footnotes":""},"categories":[61,12],"tags":[12535,5310,3504,2735,13175,7593,4119,9026,6496,3545,6070,12298,10742,11352,7259,11973,8386,12103,647,6808,5349,7216,10041,6327,5351,13307,5350,5465,6348,3954,36],"class_list":["post-19547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-world-news","tag-alphabet","tag-amazon","tag-apple","tag-bbc","tag-car","tag-controversy","tag-elon-musk","tag-fans","tag-food","tag-founder","tag-google","tag-hunger","tag-market","tag-microsoft","tag-musk","tag-one","tag-platform","tag-price","tag-securities-and-exchange-commission","tag-shares","tag-social-media","tag-spacex","tag-speech","tag-stock","tag-tesla","tag-trading","tag-twitter","tag-un","tag-us","tag-will","tag-world"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/19547","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=19547"}],"version-history":[{"count":0,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/19547\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/18908"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=19547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=19547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=19547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}