Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk has built a 9.2% stake in Twitter Inc (TWTR.N), a regulatory filing showed on Monday, potentially making him the biggest stakeholder in the micro-blogging site.
Twitter shares soared 26% in premarket trading after the filing, which comes close on the heels of Musk tweeting that he was giving "serious thought" to building a new social media platform.
Musk owns 73.5 million Twitter shares, valuing his passive stake in the company at up to $2.9 billion based on the stock's Friday close. The shares are held by the Elon Musk Revocable Trust.
Musk, a prolific user of Twitter, has over 80 million followers on the site since joining in 2009 and has used the platform to make several announcements, including teasing a go-private deal for Tesla that landed him in regulatory scrutiny.
Musk is also the founder and CEO of SpaceX, and leads brain-chip startup Neuralink and infrastructure firm The Boring Company.
SOURCE: REUTERS
IMAGE SOURCE: CNN
