Elon Musk is the largest shareholder in Twitter, and the company's shares are rising How much is his stake?

American billionaire Elon Musk's relationship with Twitter is not limited to tweeting to share his achievements, ideas and some of his positions, but he went beyond that to acquire shares in it.. How much was his share?

A regulatory disclosure Monday showed that Tesla CEO Elon Musk owns a 9.2 percent stake in Twitter, potentially making him the largest shareholder in the microblogging site.

Twitter shares rose 26% in pre-open trading after the disclosure, which comes in the wake of Musk's tweet that he is "seriously considering" building a new social networking platform.

Shares of other social media companies rose, including "Meta" and "Snap", which owns the Snapchat application.

Musk owns 73.5 million Twitter shares, which indicates that his stake in the company is valued at $2.9 billion based on the stock's closing Friday.

The shares are owned by the Elon Musk Rovocable Trust.

Musk, a heavy Twitter user, has had more than 80 million followers on the site since joining in 2009.

However, Musk has criticized the social media platform and its policies recently and said the company is undermining democracy by failing to adhere to the principles of free speech.