Elon Musk buys 9% of Twitter shares

Elon Musk has made a $3bn investment into Twitter, and now owns approximately 9% of the tech giant.

Twitter’s stock flew up a massive 26% in the wake of the announcement, and this makes Musk the largest single shareholder of Twitter stock.

This comes directly after Musk last week asked his 80 million Twitter followers whether they believe the platform adheres to free speech promotion or not. Musk tweeted:

“Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?” with a yes/no poll below.

A whopping 70% of participants chose “no”, and he subsequently tweeted about shaking up the platform industry.

This has led to him making a $3bn purchase of the shares on Friday, which was announced publicly this morning, roughly 1% of his net worth.