Tesla founder Elon Musk has taken 73,486,938 shares or 9.2 percent stake in microblogging site Twitter via Elon Musk Revocable Trust, an SEC (Securities and Exchange Commission) filing showed.
Post the news, shares of Twitter Inc jumped as much as 26 percent in pre-market trading.
Passive stake means where the shareholder takes no active part in running the company.
The SEC filing comes days after Musk had posted a poll on Twitter, asking its users whether they believe that the social media platform "rigorously adheres" to the principle of free speech. The consequences of their answers "will be important", Musk had added.
Free speech is essential to a functioning democracy.Do you believe Twitter rigorously adheres to this principle?
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— Elon Musk (@elonmusk) March 25, 2022
In a little over two hours, over 4.33 people had cast their votes, with over 64 per cent people voting for “no”.
The poll came less than 24 hours after Musk had asked the Twitterati whether Twitter’s algorithm should be open source.
Twitter founder Jack Dorsey, who quit as the CEO of the company last November, had responded to Musk saying “the choice of which algorithm to use (or not) should be open to everyone”.
The choice of which algorithm to use (or not) should be open to everyone https://t.co/o2DkSTWW0O— jack️ (@jack) March 25, 2022
Notably, Musk is one of the most influential personalities on Twitter, with more than 80 million followers. While being an avid user of the microblogging site, the Tesla CEO has taken periodic breaks. In February last year, he had tweeted that he will be "going off" Twitter temporarily. His hiatus, however, lasted for less than a month.
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