Elon Musk Is Now Twitter’s Biggest Shareholder

According to the US securities filings, Tesla’s CEO, Elon Musk, now owns 9.2% of Twitter shares, making it the biggest stake in the company, including those of Twitter’s founder, Jack Dorsey, who only owns 2.25% of shares.

Since the announcement came out, Twitter’s shares soared more than 27% in New York trading this Monday.

The Securities and Exchange Commission announced that Musk owns 73,486,938 of Twitter’s shares as of March 14th. His stake is now worth $2.89 billion.

Musk is an active user of the popular social media platform, Twitter. Besides using the platform to give updates on Neuralink and SpaceX, he recently asked his 80 million followers whether they thought the social media platform encouraged free speech. 

He said, “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?”. He asked whether his followers thought a new platform was needed in a separate tweet.

The Tesla CEO also shares memes and some controversial opinions with his followers. The UN World Food Programme head said that 2% of Musk’s wealth could stop world hunger.

Relative to this announcement, Musk said he’s willing to sell $6 billion worth of his shares if the UN could describe how exactly it could help solve world hunger.

Elon Musk’s Tesla is the fifth company to ever surpass a market value of over $1 trillion. Apple, Amazon, Microsoft, and Google-owner Alphabet are the first four to do this. 

After this happened, he took to Twitter to ask his followers whether he should sell 10% of his shares in Tesla. After 58% voted in favor, he sold shares worth around $5 billion.