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Elon Musk Now Twitter’s Biggest Shareholder

Chief executive of electric carmaker Tesla keeps mum on why he made the surprise move
April 4, 2022
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Elon Musk Now Twitter's Biggest Shareholder

United States’ Securities and Exchange Commission (SEC’s) new filing has revealed that Tesla chief, Elon Musk, is now one of  Twitter’s two biggest shareholders, with 9.2 per cent stake.

The latest  filing on Monday revealed that the tech entrepreneur  and chief executive of  the electric carmaker Tesla had,  in a surprise move, taken a 9.2 per cent stake in the social media group.

Musk signed the SEC filing which was dated Monday but he did not immediately make any statement as per why he  made the move.

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His use of twitter to reveal things about Tesla’s financial health has remained controversial.

Although many would consider Musk’s surprise move as  an interesting development, it yet  remains unclear whether  his holding would be termed class A shares.
With many US corporations, the type of shares naturally determines the kind of power the shareholder wields within the corporation.
Significant Class A shares determines the voting power of an entity or individual and how much influence the entity would have on the Board and decision making process.
Uduegbunam Chukwujama
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Uduegbunam Chukwujama

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