Elon Musk Becomes Twitter’s Largest Shareholder

CNBC reports:

Outspoken Tesla CEO Elon Musk purchased a giant stake in Twitter that makes him the largest outside shareholder in the social media stock, not long after criticizing the company for failing to uphold the tenets of free speech.

Musk owns 73,486,938 shares of Twitter, which represents a 9.2% passive stake in the company, according to the Securities and Exchange Commission 13G filing released Monday. The stake is worth $2.89 billion, based Twitter’s closing price on Friday.

“Musk could try to take a more aggressive stance here on Twitter,” Wedbush analyst Dan Ives said Monday on CNBC’s “Squawk Box.” “This eventually could lead to some sort of buyout.”

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NEW: Elon Musk has bought a 9.2% stake in Twitter, according to a regulatory filing released today. He criticized the company last month for “failing to adhere to free speech principles.” https://t.co/6jT34ihV0q

— Axios (@axios) April 4, 2022

BREAKING: Twitter shares jump in pre-market trading after Elon Musk discloses 9.2% passive stake https://t.co/VdGxtgMQ7j pic.twitter.com/e6XNOSc527

— Bloomberg Markets (@markets) April 4, 2022

Elon Musk becomes Twitter’s largest shareholder https://t.co/uP1v5gA1F3

— FT Alphaville (@FTAlphaville) April 4, 2022