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Musk bought a stake in Twitter. The stock shot up

Reuters reports that Musk owns 73.5 million shares in Twitter. According to their final price on Friday, its share is worth $ 2.89 billion (about CZK 64 billion) and corresponds to a 9.2% stake in the company.

Shares of Twitter are adding more than 25 percent in response to the pre-Monday trading report. They sell for almost $ 50 a share.

Musk is an avid Twitter user. More than 80 million people follow him on this network, his contributions are often quoted in the media and he often provokes controversy.

In the past, through his Twitter messages, Musk has repeatedly shifted the course of cryptocurrencies – such as bitcoin, ether or dogecoin. It was enough to announce that his company would or will not accept him.

The billionaire from Silicon Valley said in late March that he was “seriously thinking” about building a new social media platform. Musk has recently criticized Twitter for undermining democracy by failing to adhere to the principles of freedom of speech.

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