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It Begins: Elon Musk Buys 9.2% of Twitter — Now Largest Shareholder

Billionaire Elon Musk appears to be making his move for Twitter. This comes a week after he floated the idea on Twitter.

According to Fox Business:

Tesla CEO Elon Musk purchased a 9.2% stake in Twitter Inc. according to a Monday filing from the SEC.

Twitter’s shares jumped more than 25% in price following Monday’s news. Musk now controls nearly 73.5 million shares of the company, making him the largest shareholder, and individual stocks were priced at $49.81 on Monday morning.

Musk’s purchase comes roughly a week after the billionaire criticized Twitter for a lack of commitment to free speech.

We’ll be watching very closely and updating as needed.