Elon Musk, Becomes Twitter's Biggest Shareholder, With $2.9 Billion Stock Purchase.
Tech billionaire Elon Musk has purchased
a huge $3 billion stake in Twitter. .
Tech billionaire Elon Musk has purchased
a huge $3 billion stake in Twitter. .
'The Guardian' reports that Musk
had indicated interest in building his own
social media platform just last week. .
According to filings made with the
U.S. Securities and Exchange Commission,
Musk now owns a 9.2% stake in Twitter. .
Comparatively, that is over
four times the 2.25% stake held
by Twitter founder Jack Dorsey.
Comparatively, that is over
four times the 2.25% stake held
by Twitter founder Jack Dorsey.
Musk is one of Twitter's top 10
most popular users in the world with
over 80 million followers on the platform.
Musk is one of Twitter's top 10
most popular users in the world with
over 80 million followers on the platform.
We would expect this passive stake
as just the start of broader conversations
with the Twitter board/management that
could ultimately lead to an active stake
and a potential more aggressive
ownership role of Twitter, Dan Ives, Analyst at Wedbush Securities, via 'The Guardian'.
We would expect this passive stake
as just the start of broader conversations
with the Twitter board/management that
could ultimately lead to an active stake
and a potential more aggressive
ownership role of Twitter, Dan Ives, Analyst at Wedbush Securities, via 'The Guardian'.
'The Guardian' reports that after news
of Musk's purchase broke, shares in Twitter
rose as much as 26% in pre-market trading. .
The jump added over $8 billion
to the $31.5 billion market value
of the microblogging site. .
According to 'The Guardian,' that almost immediately increased the value of the shares purchased by Musk to approximately $3.6 billion. .
Musk has amassed a personal fortune of about
$289 billion, almost $100 billion more than the world's
second richest man, Amazon founder Jeff Bezos. .
Musk has amassed a personal fortune of about
$289 billion, almost $100 billion more than the world's
second richest man, Amazon founder Jeff Bezos.
