Elon Musk Becomes the Biggest Shareholder in Twitter as He Buys 73 Million Shares

After considering building a social media platform, Tesla CEO and SpaceX founder Elon Musk has now becomes Twitter’s biggest shareholder after purchasing $2.89 billion worth of stake, according to a regulatory filing revealed on Monday by the Securities and Exchange Commission.

According to the SEC filing, Musk now holds a 9.2% passive stake in the social media giant. He owns 73,486,938 shares of common stock out of 800,641,166 Twitter shares. That means, Musk now owns nearly 10% of Twitter.

Twitter co-founder Jack Dorsey holds a 2.25% stake, according to Axios. Twitter shares surged about 26% in premarket trading after the news broke out that Musk bought Twitter shares.

This move comes after social media users told Musk to buy Twitter after he held a poll on the social media platform asking followers whether Twitter adhered to free speech or not.

In answer to his poll on free speech, over 70% of the more than 2 million voted said that Twitter does not adhere to free speech.

Another user said, “Hey @elonmusk will you please buy @twitter, free @TheBabylonBee & return the true marketplace of ideas to this site? We need you to make it happen.”

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Jim Hᴏft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016.

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