Elon Musk gets $3bn Twitter stake

The news sent Twitter shares soaring about 25% in pre-market trading.

The Tesla founder bought 73,486,938 Twitter shares on 14 March, according to the Securities and Exchange Commission.

The stake is worth $2.89bn (£2.20bn), based on Twitter’s closing price on Friday.

The stake makes him one of the largest shareholders in the company and is more than four times the 2.25% holding of Twitter founder Jack Dorsey.