Elon Musk, the billionaire founder of Tesla, has become the largest shareholder after acquiring a 9.2% stake in Twitter. The shares are reportedly worth $2.89 billion.
Musk owned 73,486,938 shares in the social media platform as of 14 March, according to the Securities and Exchange Commission. Twitter shares increased by more than 27% at the opening of trading on Monday.
This makes the shareholder with the highest number of shares ahead of the social media network’s founder Jack Dorsey who has 2,25%.
The acquisition may not come as a surprise to many as he is an ardent user of the social network with over 80 million followers and he recently disclosed that he is giving “serious thought” to building a new social media platform.
Musk did not delay in showing off his new position as he has tweeted to ask his followers if they want an edit button or not. If we are to go by the result of the poll so far, it seems Twitter might be getting an edit button pretty soon.
