Tesla Inc top boss Elon Musk revealed a 9.2% stake in Twitter Inc, worth nearly $3 billion,
He is the biggest shareholder in the micro-blogging site and triggering a more than 20% rise in its shares.
Musk's move comes close on the heels of his tweet that he was giving a "serious thought" to building a new social media platform
Musk has over 80 million followers since joining the site in 2009 and has used the platform to make several announcements
A regulatory filing on Monday showed that Musk owns 73.5 million Twitter shares
It looks like Elon has his eyes laser set on Twitter,” said Wedbush analyst Dan Ives in a research note, adding that the stake could lead to a “more aggressive ownership role.
Musk, already the world’s richest person according to the Bloomberg Billionaires Index
The shares are held by the Elon Musk Revocable Trust, of which he is the sole trustee.