Tesla CEO Elon Musk takes 9.2% stake in Twitter, sending shares up greater than 25%

Tesla CEO Elon Musk takes 9.2% stake in Twitter, sending shares up greater than 25%



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Tesla CEO Elon Musk now owns a 9.2% passive stake in Twitter, holding 73,486,938 shares value $2.89 billion based mostly the social community’s closing value on Friday.

In line with the Securities and Change Fee, Musk is now one of many largest shareholders in Twitter, with a bigger stake within the firm than the previous CEO of Twitter, Jack Dorsey.

The stake acquisition comes lower than two weeks after Musk hit-out at Twitter, questioning whether or not the platform adheres to free speech ideas.

Whereas the take is passive, it might result in extra enter from Musk on the operating of the corporate sooner or later, with Twitter’s inventory is up 25 per cent in pre-market buying and selling to $49.09.

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