A prolific Twitter user, Musk has more than 80-million followers.
A prolific Twitter user, Elon Musk has more than 80-million followers.Tesla boss Elon Musk revealed a 9.2% stake in microblogging site Twitter on Monday, probably making him the biggest shareholder in the social media company and triggering a 26% rise in its shares.
A filing showed that Musk owns 73.5-million Twitter shares, valuing his passive stake in the company at up to $2.9bn based on the stock's Friday close. The shares are held by the Elon Musk Revocable Trust, of which he is the sole trustee. However, he has been critical of the platform and its policies, saying the company is undermining democracy by failing to adhere to free-speech principles.
Musk has been selling his stake in Tesla since November, when he said he would offload 10% of his holding in the electric-car maker. He has already sold $16.4bn worth of shares since then.
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