Elon Musk buys $2.9 billion stake in Twitter as Tesla delivers record number of vehicles

by | Apr 4, 2022 - 6:20PM | Tech

Elon Musk pictured with an inset of his Twitter profile.

Reddit’s favourite billionaire and serial tweeter Elon Musk has just dropped an incredible $2.9 billion on Twitter shares.

It gives Musk a 9.2 percent stake in the social media giant, according to documents filed with the US Securities and Exchange Commission on Monday (local time).

The boss of Tesla and SpaceX is the world’s richest man with a personal wealth of US$288.8b, according to Forbes’ rich list.

He’s worth about $100b more than the second richest person, Jeff Bezos ($189.3b).

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Twitter shares spiked by 26 percent after traders caught wind of Musk’s move. That’s about an $8b jump.

So with the skyrocketing stock price, Musk basically turned his $2.9b investment into $3.6b.

No-one (outside the man himself) quite knows what this means for Twitter, but Musk was talking about creating his own social media platform only a week ago.

Musk said he was “giving serious thought” to the idea and said Twitter doesn’t allow free speech.

Tesla delivers record number of vehicles

The 50-year-old billionaire has also been making news with his car brand, Tesla.

Tesla just set itself a new record for vehicle deliveries in a quarter.

In its report, Tesla announced that in the first quarter of 2022, Tesla built a total of 305,407 vehicles and delivered 310,048 vehicles.

To put that into perspective, in the first quarter of 2021, Tesla delivered 184,800 vehicles and produced 180,338 vehicles.

In the model delivery breakdown, Tesla said Model 3 and Model Y models accounted for 95 percent of total deliveries.

Model S and Model X models accounted for 5 percent of total shipments.

This proves just how far the American car brand has come in the last few years, beating many more established and mainstream carmakers in terms of delivery numbers.



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