Elon Musk just became Twitter's largest shareholder

Elon Musk, the CEO of Tesla, has purchased a 9% share in Twitter, making him the social media platform's largest stakeholder

Making him the social media platform's largest stakeholder

The eventual goal of Musk's 73.5 million share buy, valued at $2.9 billion at Friday's closing price, remains unclear

However, Musk has 80 million Twitter followers and frequently tweets,

Musk has recently questioned Twitter's free speech and if the network is hurting democracy.

Before the opening bell on Monday, Twitter's stock jumped 27%. Currently Twitter share  price is 49.97 USD

Musk's disclosure regarding his Twitter stock came just two days after Tesla Inc. released its first-quarter delivery figures.

The regulatory filing Monday describes Musk as a long-term investor looking to minimize his buying and selling of the shares.