Elon Musk buys 9.2% stake in Twitter, making him the largest shareholder
CNN
Elon Musk recently purchased 9.2% of Twitter stock, according to a filing Monday, making him the largest individual shareholder in the company.
News of the purchase sent shares of Twitter (TWTR) soaring 20% in premarket trading. Musk did not disclose what he paid for the shares, but his stake was worth $2.9 billion as of the close of trading Friday, and $3.5 billion after the spike early Monday.
Musk's filing did not disclose the purpose of the purchase or any plans for the company. But he has been a high-profile critic of Twitter policies in the past. Last month he said he was giving "serious thought" to creating a new social media platform.
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