Billionaire Elon Musk has acquired about 9.2% of the shares of Twitter, the social network disclosed in an SEC filing Monday.

In pre-market trading, shares of Twitter boomed as much as 25% on the disclosure. Musk hasn’t commented publicly about his holdings in Twitter. In fact, Musk — CEO of Tesla and SpaceX — recently hinted that he was mulling the idea of starting his own social media service.

According to the SEC filing, Musk acquired the Twitter shares on March 14. Per the filing, Musk bought 73.5 million shares, representing 9.2% of the 800.6 million shares of Twitter common stock outstanding as of Feb. 10, 2022.

Musk is currently the world’s wealthiest person, with a net worth of almost $288 billion; in second place is Amazon founder Jeff Bezos with a net worth of $189 billion, according to Fortune. Last month, Endeavor announced that Musk will resign from its board of directors effective June 30. Musk also founded The Boring Company, a transportation infrastructure business, and has co-founded neuro-technology company NeuraLink and AI research lab OpenAI.

More to come…

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