Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk first bought shares in Twitter Inc. (NYSE:TWTR) on Jan. 31, according to a U.S. Securities and Exchange Commission filing.
Musk has spent nearly $2.65 billion to buy Twitter shares in frequent tranches, spread over 43 days, a 13D filing with the SEC showed.
The 13D filing, following the 13G filing — made by investors who intend to take a passive role — in a span of two days, shows Musk intends to take a more active role in Twitter.
The Tesla and SpaceX CEO was appointed to Twitter’s board of directors on Tuesday, according to an 8-K SEC filing.
The filing also follows a Reuters analysis that said Musk could face regulatory ire for filing incorrect paperwork and missing a key disclosure deadline.
Musk now owns a 9.2% stake in Twitter and has teased that he would be actively pushing for changes at the social media company, including a possible inclusion of an “edit button” on its platform.
Twitter users are also calling on him to take action against pervasive Bitcoin (CRYPTO: BTC) and Dogecoin (CRYPTO: DOGE) scams on the platform.
Price Action: Twitter shares closed 2% higher at $50.98 on Wednesday, according to data from Benzinga Pro.
Photo: Courtesy of Steve Jurvetson via Flickr
