Elon Musk’s networth hits $300.3bn after acquisition of majority stake in Twitter

The world’s richest man, Elon Musk, made N5.27 trillion in eight hours after acquiring a majority stake in the microblogging platform, Twitter.

The South African had last week declared his intention to create his own social media platform to compete with Twitter and Facebook.

He, however, opted to buy rather than create his own platform in a dramatic U-turn that stunned industry experts.

READ ALSO: Elon Musk mulls creation of own social media as networth hits $270.1bn

Musk’s networth rose significantly by 4.40 percent after adding Twitter to his investment portfolio which cuts across an automobile firm, Tesla, space company, SpaceX, and satellite venture, Starlink.

His wealth is now estimated at $300.3 billion from the $273 billion reported on Friday, according to Forbes Billionaire Index, while Twitter founder, Jack Dorsey, made $726 million to take his fortune to $8.5 billion – representing a 9.30% rise.

At the time the billionaire acquired the 9.2 percent stake in Twitter on March 14, it was valued at $2.4 billion.

Three weeks after the completion of the deal, the value of the shares had increased by $1.2 billion to a remarkable $3.6 billion.

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