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Elon Musk bought stake in this big social media company, there was a jump in the stock

Elon Musk bought stake in this big social media company, there was a jump in the stock


Business

Prashanth Rai

,

Published: Monday, April 4, 2022, 17:53 [IST]

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.

elon musk buy stake of twitter share increased twenty five percent

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]



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