Elon Musk’s newly disclosed 9.2% stake in Twitter Inc. TWTR 0.97%▲ has made him the largest shareholder of the social media-company, topping co-founder and former Chief Executive Jack Dorsey and elbowing out numerous financial institutions.
Mr. Musk reported owning almost 73.5 million shares of Twitter as of March 14, according to a securities filing Monday.
His stake is now worth $3.7 billion based on Monday’s closing price.
Mr. Musk’s stake bumped Vanguard Group from Twitter’s top shareholder to No. 2, according to FactSet. Morgan Stanley Investment Management Inc. slid to No. 3.
Vanguard and Morgan Stanley declined to comment.
Mr. Dorsey, the only individual other than Mr. Musk who made the top 10 shareholder list, dropped one spot to No. 7. Representatives for Mr. Dorsey didn’t respond to a request for comment.
Jack Dorsey is the only other individual in Twitter’s top 10 shareholder list.PHOTO: JIM WATSON/AGENCE FRANCE-PRESSE/GETTY IMAGES
Mr. Musk is the world’s richest person with a net worth of $273 billion as of Monday, according to the Bloomberg Billionaires Index. He runs electric-vehicle company Tesla Inc. as well as rocket company Space Exploration Technologies Corp., as SpaceX is formally known, and tunneler The Boring Co.
Mr. Musk didn’t disclose plans or intentions behind his Twitter purchase. On Monday he tweeted: “Oh hi lol.”
Twitter CEO Parag Agrawal owns about 507,000 shares of Twitter as of March 1, representing a stake of $19.9 million based on Friday’s closing price, according to FactSet. He became CEO late last year.
Here’s a list of the top 10 Twitter shareholders, according to FactSet.
Top Twitter Shareholders
Top 10 holders in the social-media company
Market values are based on Friday’s closing price. Musk’s 13G, filed Monday, reported his Twitter position as of March 14.
Source: FactSet, public filings
Elon Musk, who is now the largest shareholder of Twitter, hasn’t disclosed plans or intentions behind his purchase.PHOTO: CHRISTIAN MARQUARDT/POOL/SHUTTERSTOCK
For publication of your news content, articles, videos or any other news worthy materials, please send to firstname.lastname@example.org. For more enquiry, please call +234 816 948 6238 or whatsapp. To place advert, please call +234 816 948 6238