Elon Musk has taken a 9.2% stake in Twitter Inc. to become the platform’s biggest shareholder, a week after hinting he might shake up the social media industry.Twitter shares surged about 26% in premarket trading after Musk’s purchase was revealed Monday in a regulatory filing. The stake is worth about $2.89 billion, based on Friday’s market close.Musk, 50, polled his more than 80 million followers on Twitter last month, asking them whether the company adheres to the principles of free speech. After more than 70% said no, he asked whether a new platform was needed and said he was giving serious thought to starting his own.
Load More
Load More