Stock in Twitter soared more than 25% before markets opened in New York. The news of Tesla CEO Elon Musk's 9.2% stake in Twitter was a disclosed in a filing with the US Securities and Exchange Commission (SEC).
The Tesla CEO owns 73,486,938 shares of Twitter, according to the Securities and Exchange Commission, valued at $2.89 billion based on Friday's closing price.
Tesla CEO Elon Musk acquired a 9% stake in Twitter to become its largest shareholder, just before raising questions about the social media platform’s dedication to free speech. The ultimate aim of Musk's 73.5 million share purchase worth $3 billion based on the closing price Friday, is not clear.
Elon Musk, the CEO of Tesla Motors and SpaceX and the world's wealthiest person, bought a 9.2 percent stake in Twitter, after conservatives on the platform urged him to use his wealth to fix the platform's free speech problem.
Tesla CEO Elon Musk now has a 9% stake in Twitter and a seat on its corporate board of directors, raising questions about how the billionaire business magnate could reshape the social media platform. He is now Twitter's biggest shareholder and has the ear of top managers.
Though Musk's 9.2% stake is considered passive, many Wall Street analysts believe the billionaire has much more planned for Twitter's long-term strategy.
Elon Musk recently questioned the negative impact of Twitter on free speech and democracy. Now, with his 9% stake in the company, he has the power to advocate for changes he sees fit.
News of Tesla CEO Elon Musk acquiring a 9.2 percent stake in Twitter has fired up the social media platform's users in a special way today. And the takes are, indeed, hot as right-wingers and Musk…
Billionaire Elon Musk is now Twitter’s largest outside shareholder, and joining its board of directors. Here’s what it means for Twitter and Musk going forward.
Tesla CEO Elon Musk now has a 9% stake in Twitter and a seat on its corporate board of directors, raising questions about how the billionaire business magnate could reshape
Tesla and SpaceX CEO Elon Musk bought a large stake in Twitter and he's now on the Twitter board. Could he buy the company outright? Will he make key decisions?
Elon Musk revealed this week that he had purchased a chunk of Twitter shares, becoming the company's largest shareholder one week after hinting that he planned to shake up the social-media industry.
Forbes magazine chief Steve Forbes said Elon Musk’s entrepreneurial mindset means Twitter’s newest board member has the “credibility and authority” to make notable changes.
