The investment also boosted the net worth of former Twitter CEO Jack Dorsey, who holds a 2.25% stake in the company, a position that is almost $200 million more valuable after Musk revealed his purchase.Musk's purchase comes about a flurry of criticism aimed at Twitter, which he has accused of stifling free speech.
"Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!" Musk said in a tweet. Although the new holdings make Musk the largest shareholder of the social media company, the bulk of his wealth is tied to shares and options in Tesla. Musk controls about 17% of the electric-vehicle maker, according to SEC filings. Tesla shares have surged in value in recent years, propelling the eccentric CEO to the top of a list of the world's wealthiest people. Musk is worth an estimated $288 billion, according to the Bloomberg Billionaires Index.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk takes 9.2% stake in Twitter, sending share prices soaringTesla CEO Elon Musk acquired a 9% stake in Twitter to become its largest shareholder, just before raising questions about the social media platform’s dedication to free speech and the First Amendment. 👀 xMorningCalmx
Source: adndotcom - 🏆 293. / 63 Read more »
Twitter shares soar more than 25% after Elon Musk takes 9% stake in social media companyTesla CEO Elon Musk has taken a big stake in social media company Twitter, a regulatory filing released Monday showed. Killed children under the age of 10 with signs of rape and torture were found in Bucha and Irpen. CHILDREN. RELATED. ROLLED OUT. KILLED. RussiaWarCrimes RussianRapists RussiaKillsCivilians stopgenocideinUkraine RussianTerrorism elonmusk if this results in trump coming back to twitter, will not ever buy a elon product Why just 9%. Take over completely.
Source: CNBC - 🏆 12. / 72 Read more »
Elon Musk buys large stake in TwitterNEW: Elon Musk has bought a 9.2% stake in Twitter, according to a regulatory filing released today. He criticized the company last month for 'failing to adhere to free speech principles.' So he’s gonna let Racists, bigots, psychopaths, and propaganda bots run amok on Twitter? Is that where we are? Well, looks around, this used to be a decent place. He bought Twitter because it is stifling free speech. He obviously understands the power of brand recognition, or else he would have lounged a new social media platform. I applaud Elon, and support him in canceling the cancel culture.😂
Source: axios - 🏆 302. / 63 Read more »