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Elon Musk Became a Shareholder of Twitter, Shares of the Social Network Flew in Price

Elon Musk Twitter

Elon Musk bought a 9.2% stake in Twitter. The deal cost 2.89 billion dollars. His share is now almost four times greater than that of the founder of the social network.

The deal, which took place on March 14, became known only now. According to the data, the Tesla founder bought 73,486,938 shares of Twitter Inc.

This number of shares makes up almost 10% of all shares, and this share makes the American billionaire the largest shareholder of the company. Musk's stake now exceeds that of Jack Dorsey by almost four times. He owns 2.25% of the shares.

The news that the businessman decided to invest a large sum in Twitter increased the value of the company's shares in pre-market trading by 26%.

Elon Musk is a longtime and regular user of the social network. There he has 80 million subscribers, and whatever statements he makes on the social network, they instantly go viral on the Internet.

He regularly uses the platform to share news from companies he owns, including SpaceX and Neuralink. In addition, he often posts memes, which makes him popular even among those who are not very interested in business, space, or cars.

Elon Musk did not disclose the purpose for which he bought almost 10% of Twitter.

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