Elon Musk becomes Twitter's largest Shareholder after buying $3bn worth of Company shares

Elon Musk, the world's richest man, has purchased a 9.2% stake in Twitter, making him the company's largest shareholder, according to a US securities filing.

According to the US Securities and Exchange Commission, the Tesla entrepreneur and tech expert purchased 73,486,938 Twitter shares on March 14, valued at $2.89 billion (£2.20 billion) and more than four times Twitter founder Jack Dorsey's 2.25 percent stake.

In pre-market trading on Monday, April 4, Twitter stock soared by roughly 25% as a result of the announcement.

Musk, a regular Twitter user with over 80 million followers, has stated that he is "seriously considering" creating a new social media site after polling his followers on whether they believe the network encourages free speech.

"A successful democracy requires free expression. Do you think Twitter follows this rule to the letter? "Is a new platform required?" he continued.


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