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Evening Standard

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Bloomberg

Tesla boss Elon Musk buys $2.9 billion chunk of Twitter

Elon Musk Twitter Inc. Tesla Inc. Parag Agrawal Jack Dorsey

Musk has bought just over 9% of Twitter shares
(Picture: REUTERS)

Elon Musk has taken a 9.2% stake in Twitter 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 the regulatory filing released Monday detailing Musk buying the holding. The stake is worth about $2.89 billion, based on Friday’s market close.

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