Twitter Shares Soar After Elon Musk Bought Large Stake

Twitter Shares Soar After Elon Musk Bought Large Stake

( – Twitter shares jumped sharply on Monday after news broke of a major new investor in the company. That should be good news for any company, but the social media platform’s ultra-woke bosses might not be feeling too happy about it. That’s because the investor is none other than rogue tech genius Elon Musk.

On April 4, the Securities and Exchange Commission revealed that Elon Musk, the entrepreneur behind Tesla and SpaceX, now owns 73,486,938 shares in Twitter. That means he holds 9.2% of the company’s stock, making him the largest investor. On April 5, Twitter announced Musk will be taking a seat on its board of directors until 2024.

SEC records show Musk started buying up Twitter stock just three weeks ago – and almost two weeks before he said, on Twitter, that he was giving serious thought to creating his own social media platform.

In recent weeks, Musk has frequently been critical of the social media site, arguing that the platform is restricting free speech. Now, as a director, he has the leverage to push back against company policy.

It’s almost certain he’ll try. Musk has a reputation for taking action, and it’s hard to see why he would spend an estimated $2.9 billion becoming Twitter’s biggest shareholder if he didn’t plan on using that position.

Is the internet’s most notorious social media site about to get a shakeup?

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