Elon Musk discloses 9.2% Stake in Twitter, Share Price Jumped 26%

Tesla owner and world’s richest man Elon Musk has bought a passive 9.2% stake in microblogging and social networking platform Twitter. This information has attracted everyone’s attention from a regulatory filing on Monday and has resulted in a massive surge in the share price of Twitter.

According to leading news agency Reuters, Twitter’s stock jumped 26% in pre-market trading on Monday after the news surfaced.

According to the information given in the regulatory filing, Elon Musk bought a 9.2% passive stake in the leading social media company.

Significantly, last month, Elon Musk said that he is considering a new social media platform. But according to regulatory filings, Elon Musk bought a stake in Twitter on February 10, 2022.

Was hinting at launching a new social media platform

Recently, Musk said in a tweet that he is seriously considering creating a social media platform because Twitter has failed in terms of the principle of freedom of expression.