Elon Musk speaks during a press conference at SpaceX’s Starbase facility near Boca Chica Village in South Texas on February 10, 2022.
Jim Watson | AFP | Getty Images
Tesla CEO Elon Musk has taken a big stake in social media company Twitter, a regulatory filing released Monday showed.
Musk owns 73,486,938 shares of Twitter, which represents a 9.2% passive stake in the company, according to the Securities and Exchange Commission 13G filing. The stake is worth $2.89 billion, based Twitter’s closing price on Friday.
Twitter shares surged more than 25% in the premarket following the news, trading around $49.40 per share.
Musk is a frequent user of Twitter and has more than 80 million followers on the platform. However, some of his tweets have gotten the Tesla chief into hot water over the years.
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