Even though Musk has a 9.2% stake in the social-media company, his holding still represents just a fraction of his overall wealth
He now has a 9.2% stake in the social media company, but that’s just a fraction of his overall wealthElon Musk's net worth is up more than $1bn based on Twitter’s closing share price on March 14.For years, Elon Musk’s net worth has been dominated by one stock: Tesla. His purchase of a 9.2% stake in Twitter, disclosed on Monday in a regulatory filing, adds an unusual element of diversification to his $273bn fortune.
Even though Musk is now Twitter’s biggest shareholder, his holding still represents just a fraction of his overall wealth. The vast majority of Musk’s net worth is tied to shares and options in Tesla, of which he’s CEO. He owns about 17% of the electric-vehicle maker, which has soared in value in recent years and catapulted Musk to the top of the list of the world’s richest people.The Tesla co-founder has stayed focused on the company even as his fortune has soared.
Musk also signalled at the time he would become more of a philanthropist. In 2021, he donated more than 5-million Tesla shares to charity, worth about $5.7bn. That came a few weeks after suggesting on Twitter he would sell stock if the UN proved $6bn would help solve world hunger.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk buys large stake in Twitter, sending stock soaringMusk recently questioned Twitter's adherence to free speech and hinted at launching his own platform.
Read more »
Elon Musk takes 9.2% stake in Twitter after hinting at shake-upElonMusk has taken a 9.2% stake in Twitter Inc., a week after hinting about plans to shake up the social media platform. Moneyweb BusinessNews
Read more »
Elon Musk buys 9.2% stake in Twitter | Fin24Elon Musk has taken a 9.2% stake in Twitter, a week after hinting about plans to shake up the social media platform.
Read more »
Twitter stock soars more than 25% after Elon Musk takes major stakeTwitter's stock soared by more than 25% in pre-market trade on Wall Street Monday, after Tesla boss Elon Musk took a major stake in the social media company.
Read more »
Elon Musk takes 9% stake in Twitter to become top shareholderA prolific Twitter user, Musk has more than 80-million followers.
Read more »
Elon Musk takes 9% stake in Twitter to become top shareholderA prolific Twitter user, Musk has more than 80-million followers.
Read more »