Elon Musk also becomes the largest shareholder of Twitter
Elon Musk on 4th April 2022 disclosed that he has held 73.5 Million Twitter shares which translates to a 9.2% stakeholder of the social media platform Twitter. This information was confirmed by the United States Securities and Exchange Commission by a filing disclosure.
Holding a 9.2 stake in Twitter made Elon Musk the largest stakeholder in Twitter Company. Elon Musk classified his largest stakeholding as passive. This means he has no interest in changing control of Twitter irrespective of being the largest stakeholder. After Elon Musk, Vanguard Group is the second-largest stakeholder of Twitter with 70.4 Million Twitter shares which translates to an 8.8% stake of Twitter according to filing disclosure filed on 31st December 2021.
On 5th April 2022, the CEO of Twitter Parag Agarwal tweeted that they are officially appointing Elon Musk to the Board of Twitter as Elon Musk will bring great value to the company. He also mentioned that the passionate believer and intensive critic that Elon Musk has is what they need for Twitter for long-term success.
Soon after being appointed Elon Musk tweeted a pool that asked Twitter users if they need an Edit Button on Twitter. The pool was responded to by 4.4 Million Twitter users among which 73.6% of people selected the yes option. The majority of responders want an Edit button on Twitter that can use to edit a tweet once it is posted. No doubt Elon Musk will give their best to improve the Twitter platform in the upcoming days.