Elon Musk becomes Twitter's biggest shareholder

Elon Musk has taken a 9.2% stake in Twitter, according to a US securities filing.

The announcement sent Twitter shares soaring by more than 27% in New York trading on Monday.

Tesla's chief executive owned 73,486,938 shares in the social media platform as of 14 March, according to the Securities and Exchange Commission.

The stake is worth $2.89bn (£2.2bn), based on Twitter's closing price on Friday.

It makes him the largest shareholder in the company, with more than four times the 2.25% holding of Twitter founder Jack Dorsey.

Mr Musk is a regular Twitter user with more than 80 million followers, although recently he said he is giving "serious thought" to building a new social media platform.

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