Musk takes 9% stake in Twitter to become top shareholder; shares rally 26%

NEW DELHI: Tesla and SpaceX founder Elon Musk has acquired a passive stake of 9.2 per cent in Twitter Inc as of March 14, 2022, making him the micro-blogging site's largest shareholder and triggering a more than 25% rise in the company's shares.

This comes days after he said he is giving “serious thought” to building a new social media platform.

Earlier, Musk had put out a tweet asking users if they believe Twitter adheres to the principle of free speech. Musk, even though is very active on Twitter, has criticised the platform previously.


Twitter Inc, in the regulatory filing, said Musk owns 73,486,938 shares of common stock in his personal capacity.

Musk, in the past, has suggested there should be a way to identify bots and troll army on Twitter.