Elon Musk Takes 9.2% Stake in Twitter

The Tesla chief took a 9.2% stake in the social media site on March 14, according to a Securities and Exchange Commission filing.

The stock purchase makes Musk the social network's biggest shareholder, Bloomberg reported Monday.

The shares are worth $2.89 billion, based on Twitter's closing price Friday, according to CNBC. 

Musk is among Twitter's most prolific users and has used his reach to question the platform's commitment to free expression. 

Twitter reported $5 billion in annual revenue in 2021 and currently has 217 million daily users who currently see ads. 

Twitter has a goal of reaching at least $7.5 billion in annual revenue and 315 million users in 2023.

Musk got into a legal battle with the SEC in 2018 when he told his then-22 million Twitter followers that he was ready to take Tesla private. 

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