FROM JEFF CHILDERS

BREAKING NEWS: ABC News reported this morning that “Tesla CEO Elon Musk takes a 9.2% stake in Twitter.” According to a regulatory filing this morning, Musk disclosed he has bought 73.5 million shares in the social media giant. In this filing, he designated the purchase as a passive investment, meaning he plans to hold the shares long-term.

ABC reported that investment advisor Dan Ives sent clients a memo early this morning saying, “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.”

Recently Musk has been extremely critical of Twitter’s censorship. The market seems to like the news, since shares have already surged 25%, also meaning Musk immediately made a ton of money on the buy.

Obviously, I have not had a chance to dig into this for you. But most publicly-traded companies have a threshold where people or companies owning a certain minimum share amount either get a seat on the board or have a significant say in corporate policy. It will be interesting to watch how Musk, now owning nearly 10% of the social media company, alters the firm’s future direction and prospects.