Tesla CEO, Elon Musk, has taken a 9.2% stake in Twitter, according to BBC news.
The announcement sent Twitter shares soaring by more than 27% in New York trading yesterday.
Elon Musk owned 73,486,938 shares in the social media platform as of 14 March, according to the Securities and Exchange Commission which makes him the largest shareholder in the company, with more than four times the 2.25% holding of Twitter founder Jack Dorsey.
The stake is worth $2.89bn (£2.2bn), based on Twitter's closing price on Friday.
Mr. Musk is a regular Twitter user with more than 80 million followers, although recently he said he is giving "serious thought" to building a new social media platform after he asked people’s opinion on whether twitter is an effective safe space for a free freedom of speech.
Do you think Elon will eventually buy Twitter and convert it to his own social media app?
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