Tesla CEO Elon Musk has taken a big stake in the social media company Twitter, a regulatory filing released Monday showed.
Highlights
- Tesla CEO Elon Musk purchased 73,486,938 shares of Twitter, a regulatory filing shows.
- The stake is worth $2.89 billion, based on the closing price of the social media company.
- The purchase comes less than two weeks after Musk criticized the company for what he said was its failure to uphold the tenets of free speech.
- Analyst: “This eventually could lead to some sort of buyout.
- It makes sense given what Musk has at least been talking about, at least from a social media perspective,” Dan Ives said Monday on CNBC’s “Squawk Box” Twitter stock surged more than 29% in the afternoon, according to the filing.