Elon Musk becomes single largest shareholder of Twitter owning 9.2% stake

Tesla CEO Elon Musk has bought a 9.2 percent passive investment in social media behemoth Twitter Inc., according to a filing with the US Securities and Exchange Commission on Monday. In premarket trade, Twitter's stock rose as high as 26%. The stake is worth $2.8 billion, according to estimates based on Twitter's last closing.

Twitter made this revelation just days after Musk polled his 80 million followers on whether the company "rigorously adheres" to the principle of free speech. He had urged his supporters to vote wisely, stating that the poll's results would be significant. 'No' was answered by more than 70% of those who responded.

Elon currently owns four times more stake than Jack Dorsey, Ex-CEO and co-founder of twitter.