Elon Musk becomes Twitter’s largest shareholder after buying a 9.2% stake

Elon Musk has bought 9.2% of Twitter shares, making him the largest shareholder in the company.

The Tesla and SpaceX founder didn’t reveal how much he paid for the shares, but CNN reports that his stake was worth $2.9 billion at Friday’s close.

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His purchase sent Twitter’s shares up 20% in premarket trading, taking his stake to $3.5 billion after the surge.

The CEO has criticized Twitter for its free speech policy in the past. “Given that Twitter serves as a de facto public marketplace, failure to uphold the principles of free speech fundamentally undermines democracy,” he said wrote Last month. “What is to be done?”

While holding less than 10% is considered “passive” by Wall Street, it can mean it Elon wants to play a significant role in how Twitter works.

That was recently announced Elon would resign from the board of directors of that company. Find out more…

https://www.justjared.com/2022/04/04/elon-musk-becomes-largest-shareholder-in-twitter-after-purchasing-9-2-stake/ Elon Musk becomes Twitter’s largest shareholder after buying a 9.2% stake

Curtis Crabtree

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