Elon Musk, the billionaire owner of Tesla, bought 9.2% on Twitter according to a mandatory briefing to the stock market authorities and as broadcast by Reuters and Bloomberg.
With the announcement of the news, the share of Twitter increased by about 26% in the transactions.
Musk got 73,486,938 Twitter shares, representing 9.2% of the company, according to a document submitted to the Securities and Exchange Commission.
The share is worth more than $ 2.8 billion, based on Twitter’s closing price on Friday.
With this move, Elon Musk becomes one of the biggest investors in Twitter.
In late March, the Silicon Valley billionaire said he was seriously considering setting up a new social networking platform.
Musk answered a Twitter user’s question about whether he would consider creating a social media platform consisting of an open source algorithm and an algorithm that prioritizes free speech and where propaganda is minimal.
He recently conducted a “poll”, asking if the company adheres to the principles of freedom of speech.
After over 70% answered “NO”, he asked if a new platform is needed and said he was seriously considering starting his own platform.