The Wrap by Antoinette Siu | April 4, 2022
The social media giant’s biggest investor made a killing on Monday’s 27% surge in the stock’s price
Elon Musk is already a winner in his giant investment in Twitter.
The Tesla and SpaceX founder’s 9.2% stake in the social media giant — valued at $2.89 billion when markets closed on Friday — has already increased in value by $800 million, to $3.68 billion.
On March 25, Musk tweeted: “Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?” More than 70% of some 2 million users on Twitter responded, “No.”
Musk has been critical of Twitter in the past, and of the SEC after he tweeted in 2018 about having secured funding to take Tesla private at $420 a share. He later settled by stepping down as chairman of the company and remaining its CEO. Last year, Parag Agarwal took over as Twitter’s CEO from founder Jack Dorsey.
More:
https://www.thewrap.com/elon-musk-800-million-twitter-investment/
