Elon Musk bought stake in this big social media company, there was a jump in the stock
Business
Prashanth Rai
new Delhi. Tesla CEO and one of the world’s richest men, Elon Musk, has bought a 9.2 percent stake in Twitter. According to a regulatory filing on Monday, Musk has bought shares worth about $73.5 million. Twitter shares rose up to 28 per cent in pre-market trading following the news. Let us tell you that Elon Musk has been a critic of Twitter since the beginning.
He keeps on tweeting about Twitter every day. Recently, there were also some reports that Elon Musk may launch a social media platform to compete with Twitter. Twitter shares were up 28.49% at $50.51 in pre-market trading after Musk bought a stake in Twitter, according to a report in Bloomberg.
In addition to raising questions about freedom of expression on Twitter, Musk said in a separate tweet that he was “seriously considering” creating a new social media platform. Musk has clashed with regulators over his use of Twitter. On March 25, Elon Musk said in a tweet that ‘freedom of expression is essential for a functioning democracy.’ He had questioned Twitter whether Twitter strictly adheres to this principle.
Story first published: Monday, April 4, 2022, 17:53 [IST]
