Elon Musk Buys 9.2 Percent of Twitter, Making Him the Largest Shareholder

Chris Isidore, CNN Business:

Elon Musk recently purchased 9.2% of Twitter stock, according to a filing Monday, making him the largest shareholder in the company.

News of the purchase sent shares of Twitter soaring 22% in early trading. Musk did not disclose what he paid for the shares, but his stake was worth $2.9 billion as of the close of trading Friday, and $3.5 billion after the spike early Monday.

He does keep things interesting.

Update: Musk is now on Twitter’s board of directors. As a friend quipped, imagine how bad it would be if Trump were actually a billionaire.

Tuesday, 5 April 2022