Elon Musk Takes 9.2% Stake in Twitter

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Elon Musk now owns a sizable chunk of Twitter, with a Securities and Exchange Commission filing revealing that Tesla chief took a 9.2% stake in the social media site

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That makes Musk its biggest stakeholder, as reported by Bloomberg on Monday.

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

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Musk's tweets got him into a legal battle with the SEC in 2018, when he told his then 22 million followers on Twitter at the time he was ready to take Tesla private.

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The regulator sued Musk for "false and misleading" statements to the electric car company's investors.

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They reached a settlement that saw Musk and Tesla each paying $20 million and gave SEC oversight over some of Musk's social media posts.

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