Elon Musk becomes Twitter's top shareholder with 9.2% stake

AgenciesUpdated: Tuesday, April 05, 2022, 08:45 AM IST
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Musk's move, revealed in a regulatory filing, comes on the heels of his tweet that he was giving "serious thought" to building a new social media platform /Representative image of Elon Musk | AFP Photo

Tesla Inc boss Elon Musk on Monday disclosed a 9.2 percent stake in Twitter Inc, worth nearly $3 billion, making him the micro-blogging site's largest shareholder and triggering a rise of more than 27 percent in the company's shares, Reuters said.

Musk's move, revealed in a regulatory filing, comes on the heels of his tweet that he was giving "serious thought" to building a new social media platform, while questioning Twitter's commitment to free speech.

He also started a poll asking Twitter users if they want an edit button, a long-awaited feature on which the social media platform has been working. It was followed by Chief Executive Parag Agrawal urging users to "vote carefully".

Within two hours of starting the poll, more than 1.1 million users voted, with over 75 percent of them backing an edit option.

(With inputs from Reuters)

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