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Evening Standard
Evening Standard
Business
Mark Banham

Elon Musk sued for alleged delay in disclosing 9.2% Twitter stake

Elon Musk Twitter Inc. Musk Musk United States Tesla Inc. SEC

Elon Musk founder of electric car manufacturer Tesla is facing court action over his stake in Twitter

(Picture: AFP via Getty Images)

Elon Musk, the founder of Tesla and rocket company Space X, has been hit by a class action law suit just days after disclosing that he had become Twitter’s largest individual shareholder.

Filings last week showed the billionaire had built a 9.2% stake in Twitter valued at almost $3 billion (£2.3 billion).

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