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Vanguard Group swooped in and knocked Elon Musk off his top shareholder perch at Twitter

2022-04-14 00:00:00

On April 4th, Elon Musk reported a 9.2% stake in Twitter, making him the company's largest shareholder. But his top-o'-the-leaderboard glory was short-lived. Four days later he was knocked down a peg when Vanguard Group announced they owned 10.3% of Twitter.

From The Wall Street Journal:

Funds held by Vanguard Group recently upped their stake in the social-media platform, making the asset manager Twitter's largest shareholder and bumping Mr. Musk out of the top spot.

Vanguard disclosed on April 8 that it now owns 82.4 million shares of Twitter, or 10.3% of the company, according to the most recent publicly available filings with the U.S. Securities and Exchange Commission.

The asset-manager increased its stake in the company at some point during the first quarter, according to the filings. Vanguard's holdings are now worth $3.78 billion, based on Twitter stock's closing price on Wednesday.

That's enough to knock Mr. Must off the perch as Twitter's largest shareholder, according to FactSet.
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