HomeTechnology & InnovationElon Musk becomes Twitter’s largest shareholder
By Economy Middle East
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April 4, 2022 3:30 pm

Elon Musk becomes Twitter’s largest shareholder

Twitter shares soar more than 26 percent
إيلون ماسك
Elon Musk

Tesla CEO Elon Musk has acquired a 9.2 percent stake in Twitter.

In its regulatory filing, Twitter said Musk purchased around 73.5 million common shares in the social media platform.

This acquisition would make Musk the company’s largest shareholder.

The disclosure has led to a 26 percent surge in Twitter’s share price on Monday.

Musk is an exceptional Twitter user; he was previously criticized for sharing through the application negative opinions that might have undermined the platform.

This comes weeks after the billionaire accused Twitter of failing to adhere to free speech principles.