Twitter's share price has risen 25% since the news of Elon's acquisition broke

Published: 4th April 2022 | Source: SEC | Author: Mark Campbell

Elon Musk is now Twitter's largest shareholder

It has been confirmed through SEC filings that Elon Musk has purchased a 9.2% stake in Twitter ( 73,486,938 shares ) on March 14th, making him the company's largest shareholder.

At this time, it is unknown how much Musk paid for his stake in Twitter, but last Friday the sake would have been worth $2.89 billion. Today, that stake is worth over $3.5 billion, as news of the purchase has increased Twitter's share price dramatically.

Elon Musk is one of Twitter's biggest celebrities, having over 80 million followers. In recent weeks, Musk expressed interest in creating his own social media platform, and last month, Musk asked his followers if they believed that Twitter encouraged free speech. Following this comment, Musk then asked if a new platform is needed.

On Twitter, Musk frequently discusses his companies (such as Tesla, Neuralink, and SpaceX) and frequently shares memes about world events, cryptocurrencies and other topics. Elon Musk isn't like most CEOs on Twitter, and that has lead to several controversies over the years.

Can Musk change Twitter's direction?

Musk may be Twitter's largest single shareholder, but that does not mean that Musk will soon be ordering Twitter around. Musk only owns 9.2% of the company, and while that is a huge stake, Twitter is not beholden to him. Jack Dorsey, Twitter's founder, currently owns a 2.25% stake in Twitter, showcasing how large Elon's stake in the company is when compared to other large shareholders.

You can join the discussion on Elon Musk purchasing a 9.2% stake in Twitter on the OC3D Forums .

Most Recent Comments

04-04-2022, 15:32:55

Dawelio

Elon Mush? Has he changed his name as well now? ... Quote

04-04-2022, 15:40:54

demonking

"Quick Elon has bought shares in Twitter we should buy them too"

And then Elon sells most of the stock he just bought to them for a inflated price

This guy really does have the ethos of there's a sucker born every minute nailed and thanks to Twitter, he has access to millions of them

Well played sir Quote

04-04-2022, 16:58:22

NeverBackDown

Not really sure why you think he's turning around and selling it... His purpose is to change Twitter for more free speech.

Just sounds like you dislike the guy. Quote

04-04-2022, 20:34:06

AngryGoldfish

Completely off-topic but I need to look into why Tesla is one of the biggest companies in the world when I only see a handful of Tesla cars here in Ireland. Quote

Reply