Elon Musk now largest outside shareholder in Twitter after buying 9.2 percent stake

Elon Musk just took his internet trolling to the next level.
The Tesla CEO has purchased a giant stake in Twitter, making him the largest outside shareholder in the social media company's stock, CNBC reports.
Musk now owns 73,486,938 shares, or a 9.2 percent passive stake in the company, per a Securities and Exchange Commission filing released Monday. According to Twitter's closing price on Friday, his stake is worth $2.89 billion.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The purchase sent TWTR shares skyrocketing more than 20 percent, and arrives after Musk had in recent weeks criticized the platform on the basis of free speech, The Washington Post reports.
The buy-up could also eventually represent a big shift for the platform itself, Dan Ives, managing director at Wedbush Securities, told the Post.
Ives thinks Musk "has his eyes laser set on Twitter," and his newly-acquired passive stake sets him up to take a "more aggressive ownership role" in the company.
"I think he intends to go active and force change," Ives said to CNN. "This is a shot across the bow at Twitter's board and management team to start discussions."
The Tesla CEO has roughly 80 million followers on Twitter, CNN reports.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brigid Kennedy worked at The Week from 2021 to 2023 as a staff writer, junior editor and then story editor, with an interest in U.S. politics, the economy and the music industry.
-
What does the Le Pen verdict mean for the future of French politics?
TODAY'S BIG QUESTION Convicted of embezzlement and slapped with a five year ban on running for public office, where does arch-conservative Marine Le Pen go from here — and will the movement she leads follow?
By Rafi Schwartz, The Week US Published
-
Discount stores were thriving. How did they stumble?
The Explainer Blame Walmart — and inflation
By Joel Mathis, The Week US Published
-
Kaja Kallas: the EU's new chief diplomat shaping the future of European defense
In the Spotlight Former Estonian Prime Minister's status as an uncompromising Russia hawk has gone from liability to strength
By David Faris Published
-
Test flight of orbital rocket from Europe explodes
Speed Read Isar Aerospace conducted the first test flight of the Spectrum orbital rocket, which crashed after takeoff
By Peter Weber, The Week US Published
-
Musk vs. Altman: The fight over OpenAI
Feature Elon Musk has launched a $97.4 billion takeover bid for OpenAI
By The Week US Published
-
Apple pledges $500B in US spending over 4 years
Speed Read This is a win for Trump, who has pushed to move manufacturing back to the US
By Rafi Schwartz, The Week US Published
-
Microsoft unveils quantum computing breakthrough
Speed Read Researchers say this advance could lead to faster and more powerful computers
By Rafi Schwartz, The Week US Published
-
Elon Musk's DOGE website has gotten off to a bad start
In the Spotlight The site was reportedly able to be edited by anyone when it first came online
By Justin Klawans, The Week US Published
-
What Trump's 'tech bros' want
The Explainer Elon Musk, Mark Zuckerberg and Jeff Bezos had 'prime seats' at the president's inauguration. What are they looking to gain from Trump 2.0?
By Chas Newkey-Burden, The Week UK Published
-
TikTok's fate uncertain as weekend deadline looms
Speed Read The popular app is set to be banned in the U.S. starting Sunday
By Peter Weber, The Week US Published
-
Jeff Bezos, Elon Musk and the billionaire space race
The Explainer Tesla CEO and Amazon founder vie for dominance of satellite launch market and could influence Nasa plans to return to Moon
By Harriet Marsden, The Week UK Published