Elon Musk Becomes Twitter’s Largest Shareholder, After Buying 9.2% Stake

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After Tesla CEO Elon Musk’s recent run-ins with the Securities and Exchange Commission (SEC), the billionaire entrepreneur has officially purchased some stake in Twitter in a surprising turn of events.

Musk now owns a 9.2 percent stake in Twitter, for a total of 73,486,938 shares worth around $2.89 billion, according to an SEC 13G filing shared on Monday, as reported by CNBC.

On Monday, Wedbush’s Daniel Ives said, “Musk could try to take a more aggressive stance here on Twitter. This eventually could lead to some sort of buyout.” Inves continued, “This makes sense given what Musk has at least been talking about, at least from a social media perspective.”

Just last week, Musk polled users on Twitter as to whether he should start his own social media platform, questioning whether the platform strictly adheres to free speech principles.

Musk also requested that a judge halt the SEC’s oversight of his Twitter last month, to which the agency responded that Musk should abide by the Twitter oversight agreement.

The oversight agreement was created in response to a 2018 tweet from Musk saying that he had “funding secured” to take Tesla private at $420 per share.

Musk was removed as a chairperson at Tesla and was forced to accept terms including SEC oversight of his Twitter.

The news of Musk owning the largest stake in Twitter sent shares of the company soaring up 25% as of writing on Monday.

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