© Reuters. Elon Musk Now the Single Biggest Shareholder of Twitter (TWTR)
Earlier today, Elon Musk, the CEO of Tesla (NASDAQ:) and SpaceX, disclosed a 9.2% “passive” stake in Twitter (NYSE:) via a 13G filing with the SEC.
Musk acquired 73,486,938 shares of TWTR stock, which, according to Reuters ownership data, makes him the single largest shareholder of the social network.
A former No.1, The Vanguard Group, owns 70.38M shares according to the latest filing, followed by Morgan Stanley Investment Management with 64.72M shares.
By comparison, Twitter’s current CEO Agrawal Parag owns just over 500k shares of the company’s stock, while co-founder and former CEO Jack Dorsey’s stake is less than 2%.
The share acquisition comes as Elon Musk, one of Twitter’s most prominent users with over 80M followers, voiced criticism over the social network’s censorship practices, going as far as to tweet “Is a new platform needed?”
Shares of Twitter are gaining close to 30% in heavy pre-market trading.
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