Elon Musk, Becomes Twitter's Biggest Shareholder, With $2.9 Billion Stock Purchase.<br />Tech billionaire Elon Musk has purchased <br />a huge $3 billion stake in Twitter. .<br />Tech billionaire Elon Musk has purchased <br />a huge $3 billion stake in Twitter. .<br />'The Guardian' reports that Musk <br />had indicated interest in building his own <br />social media platform just last week. .<br />According to filings made with the <br />U.S. Securities and Exchange Commission, <br />Musk now owns a 9.2% stake in Twitter. .<br />Comparatively, that is over <br />four times the 2.25% stake held <br />by Twitter founder Jack Dorsey.<br />Comparatively, that is over <br />four times the 2.25% stake held <br />by Twitter founder Jack Dorsey.<br />Musk is one of Twitter's top 10 <br />most popular users in the world with <br />over 80 million followers on the platform.<br />Musk is one of Twitter's top 10 <br />most popular users in the world with <br />over 80 million followers on the platform.<br />We would expect this passive stake <br />as just the start of broader conversations <br />with the Twitter board/management that <br />could ultimately lead to an active stake <br />and a potential more aggressive <br />ownership role of Twitter, Dan Ives, Analyst at Wedbush Securities, via 'The Guardian'.<br />We would expect this passive stake <br />as just the start of broader conversations <br />with the Twitter board/management that <br />could ultimately lead to an active stake <br />and a potential more aggressive <br />ownership role of Twitter, Dan Ives, Analyst at Wedbush Securities, via 'The Guardian'.<br />'The Guardian' reports that after news <br />of Musk's purchase broke, shares in Twitter <br />rose as much as 26% in pre-market trading. .<br />The jump added over $8 billion <br />to the $31.5 billion market value <br />of the microblogging site. .<br />According to 'The Guardian,' that almost immediately increased the value of the shares purchased by Musk to approximately $3.6 billion. .<br />Musk has amassed a personal fortune of about <br />$289 billion, almost $100 billion more than the world's <br />second richest man, Amazon founder Jeff Bezos. .<br />Musk has amassed a personal fortune of about <br />$289 billion, almost $100 billion more than the world's <br />second richest man, Amazon founder Jeff Bezos.
