Elon Musk has become Twitter’s biggest shareholder after taking 9.2% stake in the company, new SEC filing reveals.
The world’s richest man has quadruple the shares of its founder Jack Dorsey. Musk’s passive stake is valued at up to $2.9 billion based upon Friday’s stock close.
The 50-year-old has bought nearly 73.5 million shares, according to a document filed with the US Securities and Exchange Commission.
This news prompted Twitter’s stock to soar to more than 26% in pre-market trade before Wall Street opened on 4th April.
Musk has recently been doubting his ability to communicate freely on the social media platform, tweeting last month about free speech:
Free speech is essential to a functioning democracy.
Do you believe Twitter rigorously adheres to this principle?
— Elon Musk (@elonmusk) March 25, 2022
In another tweet, Musk said he was ‘giving serious thought’ to create a new social platform.
Huge move from the world’s richest man…