Grimes' ex-boyfriend and world's richest man Elon Musk is revealed to have bought a $3 billion stake in Twitter.
The Tesla founder bought up about 73,486,938 shares on March 14, according to a US securities filing. That adds up to about a 9.2% stake in in the social media company.
Once the news broke, Twitter shares shot up significantly by about 25%. That added more than $8bn to its $31.5bn market value pre-Musk.
Musk, aka the guy with a penchant for weird children's names, has not yet publicly commented on his purchase. However, he has recently stated that Twitter is not following principles of free speech. He also said that there is a need for an alternative platform.
"Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?" Musk tweeted on March 26.
The tweet came a day after he polled his 80 million followers about whether Twitter "rigorously adheres" to the principle of free speech; 70% of the 2 million users who voted said it does not.
Musk has a history of putting his business decisions to Twitter polls, so buying stock in the company makes sense. Last year, Musk asked Twitter if he should sell 10% of his Tesla stock in response to being asked to pay some tax. The overwhelming response was, of course, yes.
Analysts believe that Musk's shareholding in Twitter is just the start of a larger interest of how social media sites are ran and governed.
"We would expect this passive stake as just the start of broader conversations with the Twitter board/management that could ultimately lead to an active stake and a potential more aggressive ownership role of Twitter," said Dan Ives, an analyst at Wedbush Securities.
