Elon Musk Acquires a Large Portion of Twitter Shares, the Social Media Company’s Shares Rise

Elon Musk Acquires a Large Portion of Twitter Shares, the Social Media Company’s Shares Rise

  • Billionaire Elon Musk revealed that he has purchased a large portion of Twitter stocks on Monday
  • Musk currently holds the biggest share in the social media company after he criticized the platform
  • Social media users took to Twitter to share their thoughts on the Pretoria-born billionaires latest investment

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UNITED STATES - Twitter shares skyrocketed after Elon Musk announced that he purchased a big portion of the company. He is the company's biggest stakeholder.

This comes after he criticized the social media platform and suggested that would create his own in the industry.

Business News, Twitter shares, Elon Musk announces 9% stake, in social media platform
Billionaire Elon Musk disclosed that he has taken a big stake in Twitter. Image: Thomas Trutschel & Patrick Pleul/Getty
Source: Getty Images

The billionaire has acquired 9.2%, which is worth about $2.89 billion, of shares in Twitter according to Business Tech.

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He took to Twitter on March 25 to ask users via a poll if the app adheres to free speech which is essential to democracy.

In response, he Tweeted:

“The consequences of this poll will be important. Please vote carefully.”

Twitter shares soared by almost 25% on Monday according to Markets Insider.

Social media reacts to the news

@Muskidd commented:

“In the age of censorship, we need to fight for free speech like never before.”

@theenigmaofmak posted:

“Hmm if this guy were the Anti-Christ I wouldn't be shocked. He is taking over slowly.”

@t_kgopa said:

“He wanted those shares on the cheap, clever dude.”

@achilies17 added:

“Nine per cent he can maybe decide on the logo colour but that's about it.”

Drone video showing Tesla’s new massive R80 billion Gigafactory in Berlin, Germany has gone viral

Briefly News previously reported a video of Tesla's new Gigafactory in Berlin, Germany has gone viral as the plant opened this week. Tesla boss Elon Musk cut the red ribbon and was present as the first 30 German customers received their cars. Tesla breached a nett worth of $1 trillion late last year and the company is hoping the new factory will alleviate production issues at its plants in the United States and China.

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An awesome video on social media showing the new Tesla Gigfactory in Grünheide has gone viral. The clip is shot with a drone and takes you to places that a normal camera can't, Gigafactory Berlin-Brandenburg reports.

Tesla is anticipating the new factory will build around half a million vehicles per year and the initial target of producing 2 000 vehicles in its few weeks is on track, CNBC reports. The reason for a plant in Europe is due to the high demand on the continent as many governments phase out out the sale of internal combustion engine vehicles and move towards electric vehicles.

Source: Briefly News

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