Elon Musk has unexpectedly become the largest shareholder of social media giant Twitter, with a stake of approximately $3 billion.
The Tesla and SpaceX boss now owns 73,486,938 shares of Twitter, accounting for 9.2 percent of the social media company’s common stock.
The information comes from a new regulatory filing by Twitter with the Securities and Exchange Commission and is based on the 800,641,166 shares of common stock outstanding as of February 10, 2022. It appears that the purchase was made on March 14th.
Musk is a regular and avid user of Twitter and has about 80 million followers, who use it for everything from jokes and memes, and thinking about the nature of the universe, to news about rocket launches and Tesla’s achievements.
He has also recently used the platform to debate the role of Twitter itself, in a conversation that may gain even more resonance after its massive shareholding was revealed.
Late last month, Musk posted a Twitter poll on Twitter, asking, “Freedom of speech is essential to a functioning democracy. Do you believe Twitter strictly adheres to this principle?” Just under a third (29.6%) said ‘yes’, but a significant majority – 70.4% – said ‘no’.
At the time, he noted, “The implications of this poll will be important. Vote carefully.”