Elon Musk, the CEO of Tesla and SpaceX has purchased 9.2% shares of Twitter, which is equivalent to 73.5 million shares, and now holds a valuable position in Twitter.
Elon Musk is now the single largest shareholder of the microblogging site Twitter.
Musk has, in the past, criticized Twitter on several occasions, from questions about the “Free Speech” on Twitter, which according to him undermines the spirit of Democracy due to the policies of Twitter.
He has also challenged of starting up a rival microblogging social media platform that will be a betterment compared to Twitter.
The investment in Twitter by Elon Musk is seen as a passive investment, which ultimately considers him to be a long-term investor in the company.
“We would expect this passive stake as just the start of broader conversations with the Twitter board/management that could ultimately lead to an active stake and a potential more aggressive ownership role of Twitter,” Dan Ives of Wedbush Securities said.
On Monday, Twitter stocks surged 25% before the opening bell, and the news went through the money market corridors, the buying began,
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