Elon Musk snaps up 9.2 % stake in Twitter for $3bn

By Ayush Nigam

After announcing that Elon Musk owns 9.2% of the microblogging site in a Regulatory Filing on 14 March, Twitter saw one of its best performing days on NASDAQ.

As reported by the Securities and Exchange Commission, Musk owns over 73 million shares of the company and has a net stake of $2.89 billion.

The company stock rose 27% in a single day, simply due to the massive influx of capital into the company post this reveal. It is reported that Musk now owns more than four times the stake of CEO Jack Dorsey, and getting a seat at the table won’t be a hassle for the Tesla CEO now.