Elon Musk Is Now Twitter’s Largest Shareholder, Owning 73.5M
The world’s richest person with a net worth of $273 billion as of Monday, according to the Bloomberg Billionaires IndexElon has been made the largest shareholder in Twitter following his disclosure of 9.2% in the media company.
Elon Musk reportedly owning almost 73.5 million shares of Twitter as of March 14 according to securities filing on Monday, is topping co-founder and former Chief Executive Jack Dorsey and elbowing out numerous financial institutions.
His disclosure prompted Twitter’s stock to surge 27% on Monday, making it the biggest-ever day gain, it mean Mr. Musk made about $784 million in paper profits in one trading day.
His stake is now worth $3.7 billion based on Monday’s closing price.
Mr. Musk’s stake crashed Vanguard Group from Twitter’s top shareholder to No. 2, with Morgan Stanley Investment Management Inc. sliding to No. 3, according to FactSet.
However, Vanguard and Morgan Stanley have declined to comment.
However, according to FactSet, 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. He became CEO late last year.
Here’s a list of some top Twitter shareholders, according to FactSet: