BREAKING: Elon Musk has taken a 9.2% passive stake in Twitter, Bloomberg News reports https://t.co/qcG7Sq4fGT pic.twitter.com/WFGxQGN7UY
— Bloomberg (@business) April 4, 2022
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Elon Musk has taken a 9.2% stake in Twitter Inc. to become the platform's biggest shareholder, a week after hinting he might shake up the social media industry.
Twitter shares surged about 26% in premarket trading after the regulatory filing released Monday detailing Musk buying the holding. The stake is worth about $2.89 billion, based on Friday's market close.