Surprise! Elon Musk Owns 9% of Twitter



Social Media Shake-up

Elon Musk is now a big player in the social media space. After openly flirting with the idea of starting his own social platform, a recent securities filing revealed that he owns 9% of Twitter (TWTR).

Musk has joined others, such as former president Donald Trump, in criticizing Twitter’s content management, which he claims infringes on freedom of speech. There are alternative platforms with more lax controls, but some fear the loosening of editorial standards could cause harm by spreading misinformation.

Sparring Over Twitter

The revelation of Mr. Musk’s stake in Twitter, which is valued at close to $3 billion, caused the stock price to skyrocket. Shares were up over 25% on the news. Musk’s 73.5 million shares now exceeds the number owned by the company’s co-founder, Jack Dorsey.

Elon Musk is highly critical of the algorithms used by Twitter, which are designed to make money for the company through advertising. He has advocated for making these algorithms open source, meaning making the software publicly accessible. Mr. Dorsey, former CEO of Twitter, responded, “The choice of which algorithm to use (or not) should be open to everyone.”

The Richest of All

Elon Musk is the richest person in the world, with a net worth of approximately $273 billion. In addition to Tesla (TSLA), he founded aerospace company SpaceX, which includes satellite internet services offered by Starlink.

The billionaire’s gutsy orientation and tendency to push boundaries has not always played out well for him. In 2018 he agreed to pay $20 million to settle a lawsuit involving tweets that the SEC claimed violated securities law. At issue was a message Musk posted that discussed the possibility of taking Tesla private. The SEC deemed the information shared on Twitter “false and misleading.”

Things are changing daily within the financial world. Sign up for the SoFi Daily Newsletter to get the latest news updates in your inbox every weekday.

Sign up


Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Adviser
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
SOSS22040501


All your finances.
All in one app.

SoFi QR code, Download now, scan this with your phone’s camera

All your finances.
All in one app.

App Store rating

SoFi iOS App, Download on the App Store SoFi Android App, Get it on Google Play

ABOUT Meg Richardson Meg Richardson is a writer specializing in markets, technology, and personal finance. She loves breaking down seemingly complex ideas and making them readable and interesting for everyone. She holds an MFA in writing from Columbia University. When she is not writing about finance, she enjoys running in Central Park and drawing cartoons.


TLS 1.2 Encrypted
Equal Housing Lender