Elon Musk now owns a sizable chunk of Twitter.
The stock purchase makes Musk the social connection’sbiggest shareholder, Bloomberg reported Monday.
The shares areworth $2.89 billion, based on Twitter’s closing price Friday, according to CNBC.
Twitter’s stock soared more than 27% on Monday, closing at $49.97.
More than 70% said no.
The post came nearly two weeks after the date on the SEC filing for his stake in Twitter.
Twitter has been undergoing major leadership changes.
In November, Twitter co-founderJack Dorseystepped down as the company’s chief executive.
Parag Agrawal, who was previously Twitter’s chief technology officer, took over the executive role.
Musk has a large following on Twitter but some of his tweets have landed him in hot water.
The regulator sued Musk for “false and misleading” statements to the electric car company’s investors.
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