Platform’s shares jump after news that Tesla and SpaceX boss holds 9.2% stake
The billionaire Elon Musk has taken an almost $3bn (£2.3bn) stake in Twitter to become the social media platform’s largest shareholder.
The world’s richest man, who has a penchant for eccentric behaviour frequently involving tweets, has built a 9.2% stake in Twitter, according to filings made to the US Securities and Exchange Commission (SEC) on Monday.
The boss of Tesla and SpaceX, who with more than 80 million followers ranks in the global top 10 of the most popular users on the microblogging site, paid $2.89bn for the stake at Twitter’s closing share price on Friday.
The company’s shares soared by more than a quarter in pre-market trading on the back of the news, adding about $8bn to its $31.5bn value, before easing back to 21% up in early trading. After the stock price jump Musk’s shares are now worth more than $3.5bn.
Read more: The Guardian
