Elon Musk made ‘eye-watering’ sum of money days after announcing Twitter shares

Elon Musk could face a US government probe after it was revealed he made an eye-watering £119 million ($156m) within days of becoming the majority shareholder of Twitter.

Musk has become even richer since purchasing Twitter shares over the last few months, with his biggest purchase coming on February 7 when he bought more than 4.8 million shares in the social network.

Musk became Twitter's majority shareholder after nabbing a £2.2bn stake in the company. He has since obtained a seat on the board of directors, which he is keen to use in order to get an 'edit' button added to Twitter.

To celebrate, Musk has been posting memes of himself all over the platform, most recently with an infamous photo of him smoking weed on the Joe Rogan Experience podcast.

However, analysts have speculated Musk could face an investigation from the US Security and Exchange Commission (SEC) authority after disclosing his majority shareholder status 11 days late.

In that time, he reportedly made more than £119 million in profit on his Twitter shares, which could land him in hot water with the authorities.

Musk became Twitter's majority shareholder on March 14 with a 9.2% stake in the company, breaking a 50-year-old law requiring investors to tell regulators once they own more than 5 percent stake in a company.

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After going public with the news, the value of his Twitter shares soared even further, making the world's richest man even wealthier.

"I really don’t know what’s going through his mind," finance professor David Kass said to The Washington Post on Wednesday. "Was he ignorant or knowledgeable that he was violating securities law? Whoever was handling the trades for Musk should have known."

Musk's move to invest in Twitter came after months of him criticising the social media platform. On March 25 he shared a poll asking his followers: "Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?"

He then shared cryptic posts saying he was giving "serious thought" to entering the world of social media.

  • Elon Musk
  • Twitter

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