Elon Musk Becomes the Biggest Shareholder in Twitter as He Buys 9.2% Shares

After considering building a social media platform, Tesla CEO and SpaceX founder Elon Musk has now becomes Twitter’s biggest shareholder after purchasing $2.89 billion worth of stake, according to a regulatory filing revealed on Monday by the Securities and Exchange Commission.

According to the SEC filing, Musk now holds a 9.2% passive stake in the social media giant. He owns 73,486,938 shares of common stock out of 800,641,166 Twitter shares. That means, Musk now owns nearly 10% of Twitter.

Twitter co-founder Jack Dorsey holds a 2.25% stake, according to Axios. Twitter shares surged about 26% in premarket trading after the news broke out that Musk bought Twitter shares.

This move comes after social media users told Musk to buy Twitter after he held a poll on the social media platform asking followers whether Twitter adhered to free speech or not.

In answer to his poll on free speech, over 70% of the more than 2 million voted said that Twitter does not adhere to free speech.

Please buy Twitter.

— Brigitte Gabriel (@ACTBrigitte) March 25, 2022

Another user said, “Hey @elonmusk will you please buy @twitter, free @TheBabylonBee & return the true marketplace of ideas to this site? We need you to make it happen.”

Hey @elonmusk will you please buy @twitter, free @TheBabylonBee & return the true marketplace of ideas to this site? We need you to make it happen.

— Clay Travis (@ClayTravis) March 25, 2022

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