Elon Musk holds 9.2% stake in Twitter, shows filing

Tesla Inc Chief Executive Officer (CEO) Elon Musk holds a 9.2 per cent passive stake in micro-blogging site Twitter Inc as of February 10, 2022, a regulatory filing showed on Monday.

"Amount beneficially owned: 73,486,938 shares consisting of shares of Common Stock held by the Elon Musk Revocable T 2003 for which Eon Musk is the sole Trustee," the filing stated. 

Twitter shares jumped 25.8 per cent to $49.48 apiece during premarket, according to Reuters.

Late March, the Tesla chief and SpaceX founder said he was giving "serious thought" to building a new social media platform.

A prolific user of Twitter himself, Musk has been critical of the social media platform and its policies of late. He has said the company is undermining democracy by failing to adhere to free speech principles.

Meanwhile, Tesla on Saturday reported record electric vehicle deliveries for the first quarter, but its production fell from the previous quarter as supply chain disruptions and a China plant suspension weighed.

"This was an *exceptionally* difficult quarter due to supply chain interruptions & China zero Covid policy," CEO Elon Musk tweeted.

Tesla delivered 310,048 vehicles in the quarter, a slight increase from the previous quarter, and up 68% from a year earlier. 

(With agency inputs)