Elon Musk snaps up 9% stake of Twitter leading to shares surge

Elon Musk activates SpaceX Starlink service over Ukraine

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In a filing this morning it was revealed Elon Musk has bought over 73 million shares in Twitter giving him a 9.2 percent stake in the company. Based on Twitter’s closing price on Friday the deal amounts to just over $2.8 billion (£2.14bn). US markets have yet to reopen on Monday but pre-market trading has seen Twitter’s share price soar 26 percent on the news.Mr Musk has been a longstanding, and at times outspoken, user of Twitter whose posts have previously moved markets.

In recent weeks he has also become increasingly critical of the firm over concerns over freedom of speech.

Writing on Twitter recently he said: “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy.

“What should be done?”

The post followed a poll in which he asked followers whether they believed Twitter adhered to the principle of free speech, which returned a majority vote of ‘no’ by 70 percent.

At the time he warned: “The consequences of this poll will be important.”

“Please vote carefully.”

More to follow… 

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