Twitter Shares: Vanguard Group replaces Elon Musk as largest shareholder

SpaceX CEO, and world’s richest man, Elon Musk has been overtaken on Thursday, April 14, as Twitter‘s largest shareholder.

The increase in Vanguard Group’s stake from initial 8.4 percent (67.2 million shares) to 10.3 percent (82.4 million shares) toppled Musk’s 9.1 percent (73.1 million shares) to be the largest share percent.

This report is evident by the documents sent to the U.S. Securities and Exchange Commission (SEC) on April 8.

Vanguard Group’s total investment value is currently worth $3.71 billion, against Musk’s $3.29 billion, vis-à-vis Twitter’s market share value.

The investment has set the stage for an ownership battle between the institutional investor and individual investor, considering Musk had launched a bid to buy Twitter.

Musk had threatened to withdraw his $3.71 billion from the firm if his offer is rejected. The Tesla architect offered to buy Twitter for $54.20 per share, against the current price of Thursday, $45.08.

This increment move by Vanguard Group is invariably a challenge to Musk’s aspiration to becoming Twitter’s sole proprietor. The billionaire still remains the largest individual shareholder.