Twitter shares take off as Elon Musk buys stake worth almost $3bn

Shares in social media giant Twitter have surged by a quarter after it was revealed that Tesla billionaire Elon Musk had bought a 9.2% stake.

A regulatory filing showed the tycoon had snapped up 73,486,938 Twitter shares.

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

Musk is a frequent user of Twitter and has more than
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