Elon Musk buys a large stake in Twitter, causing the company's stock to skyrocket.
Musk has a stake of 9.2% with which he becomes the largest shareholder.
The stake is worth 2.89 billion dollars and pushes the shares of the company that chirps which at the opening on Wall Street rose more than 23%.
Musk, the richest man in the world and CEO of electric vehicle company Teslae SpaceX, is a regular Twitter user who frequently posts, even controversial messages.
According to a document filed with the US Securities and Exchange Commission (SEC), the South African billionaire acquired nearly 73.5 million Twitter shares, a 9.2% stake in the company.
Based on Friday's closing price of the company's stock, his investment amounts to nearly $ 2.9 billion.
"We would expect this participation to be just the start of broader conversations with Twitter's board / management that could ultimately lead to active participation and a potential more aggressive Twitter ownership role," analysts Daniel wrote. Wedbush's Ives and John Katsingris in a Note.
Musk launched a Twitter poll on March 25, stating that "free speech is essential for a functioning democracy. Do you believe Twitter strictly adheres to this principle?"
More than two million people voted in the poll, with over 70% saying "no".
"Since Twitter acts as a de facto public square in the city, failure to respect the principles of free speech fundamentally undermines democracy. What should be done?"
he continued the next day.
"Is a new platform needed?"