Tesla CEO, Elon Musk’s two-week reign as Twitter’s largest shareholder is over.
The investment company, Vanguard Group now holds that title after increasing its stake in the social media company.
Until the early hours of Friday, Musk’s 9.2% shareholding was the most held by a single entity.
Vanguard’s recent acquisition has taken its shareholding to 10.3%.
Vanguard now owns 10.3% of Twitter, making it a bigger shareholder than Elon Musk.
— The Spectator Index (@spectatorindex) April 15, 2022
Vanguard Group announces it has accumulated a 10.3% stake in Twitter, making it the largest shareholder.
— Amy Siskind 🏳️🌈 (@Amy_Siskind) April 14, 2022
BREAKING:
— CoffeyTimeNews - 🇺🇸’s Emotional Support 🇨🇦 (@CoffeyTimeNews) April 14, 2022
Elon Musk is no longer Twitter’s largest shareholder.
The Vanguard Group has just announced it has now accumulated a 10.3% stake in Twitter, making it the largest shareholder.
The news is coming a day after Musk offered to buy Twitter for $43 billion in cash.
I made an offer https://t.co/VvreuPMeLu
— Elon Musk (@elonmusk) April 14, 2022
About the Vanguard Group
Vanguard is a privately held investment company with more than $8 trillion in assets under management.
It is second only to the powerful fund manager, BlackRock, which has $9.01 trillion in assets under management.
It is the largest issuer of mutual funds in the world and the second-largest issuer of exchange-traded funds (ETFs)
The company was founded in 1975 and currently has more than 18,000 employees.
It made a revenue of $6.936 billion in 2020.
