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Elon Musk Spent $2.64 Billion on Twitter Stock -Breaking

by Mike Robinson

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© Reuters. Elon Musk Spends $2.64 Billon on Twitter (TWTR). Stock

According to Tuesday’s SEC filing, Elon Musk spent $2.64 Billion on his stake in Twitter (NYSE)

According to new 13D filings, Musk now owns 9.1% of Twitter. He has bought shares almost daily for over two months. This suggests that Musk wants to play a greater role in Twitter’s operations.

Previous 13G filings indicated that Tesla’s CEO held a passive interest in the company. He had no intention of exerting his influence. But the SEC’s new filing proves otherwise.

According to the filing, Musk owns approximately $3.73 billion worth of Twitter shares at closing.

Parag Agrawal, CEO of Twitter, stated that Musk would not only become an active investor but also join Twitter’s board.

According to the new filing, Musk purchased $176 million worth of Twitter shares on February 7, when he bought over 4.8 Million.

Musk cannot increase his share of Twitter to 14.9% during his tenure on the board, and for 90 days thereafter, according to the filing.

Twitter shares are down by 1% during pre-open Wednesday

By Senad Karaahmetovic

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