In the world of technology and business, Elon Musk has been a household name for some time now. But it looks like he has been dethroned from his reign as king of Twitter. The new leader of the pack is the investment firm Vanguard, which recently acquired a whopping 13.8% stake in the social media giant.
The move, which was made in May of this year, is part of a larger trend of institutional investors taking an increased interest in the tech industry. It also marks the first time in history that an investment firm has owned more of a publicly-traded company than its CEO.
Vanguard has a long history of investing in companies, but this move is particularly notable given the company’s reputation as a passive investor. By taking such a large stake in Twitter, Vanguard is signaling that it is willing to take a more active role in the company’s affairs.
The move could also prove to be a major boon for Vanguard’s portfolio, as Twitter’s stock has surged since the announcement. While it remains to be seen if this trend can continue, it’s clear that Vanguard is now the largest shareholder in the company.
It looks like Elon Musk’s reign as king of Twitter may be coming to an end. Vanguard’s decision to take a large stake in the company indicates that the investment firm is willing to take a more active role in the company’s affairs. Whether or not this move will pay off remains to be seen, but it’s clear that Vanguard is now the largest shareholder in the company.
