SINCE its conception, millions and millions of users have opened Twitter accounts to express their thoughts and opinions.
As Jack Dorsey and Elon Musk proceed with talks to make a deal regarding ownership of the platform, netizens are curious to know who Twitter actually belongs to.
Who owns Twitter?
In lieu of one singular owner, Twitter and its shares are divided by several investment organizations, private companies, retail businesses, and individual stakeholders that work for the app.
Pennsylvania-based investment management firm The Vanguard Group owns the most shares of Twitter.
With The Vanguard Group’s Twitter stake at 8.95 percent, this makes them the platform’s largest shareholder and puts them at the top of the list when it comes to ownership.
The company with the second highest share percentage is BlackRock Fund Advisors.
The New York City-based public organization owns 4.66 percent of Twitter.
SSgA Funds Management Inc ranks third, while Fidelity Management & Research and Pentwater Capital Management LP respectfully rank fourth and fifth in terms of ownership.
On April 4, 2022, Elon Musk acquired 9.5 percent of Twitter and ranked first in ownership.
Months later on Monday, July 11, it was announced that Musk rescinded his stake in the company.
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When Musk sold his shares of the platform, the aforementioned list of organizations resumed their places in the app’s ownership lineup.
When was Twitter founded?
On March 21, 2006, Jack Dorsey, Christopher Isaac Stone, Noah E Glass, Jeremy LaTrasse, and Evan Williams founded Twitter.
The app was a result of the remains of Williams and Glass’ fizzled-out podcast startup Odeo.
Stone, LaTrasse, and Dorsey joined Odeo sometime later, which then evolved into Twitter.
Launched in July of that year, the platform is headquartered in San Francisco, California.
On November 29, 2021, Dorsey revealed that he was stepping down from his position as CEO.
In his announcement, co-founder Dorsey, who owns 2.4 percent of the company, stated that Parag Agrawal will take over as CEO.
Dorsey shared: “I’ve decided to leave Twitter because I believe the company is ready to move on from its founders.
“My trust in Parag as Twitter’s CEO is deep. His work over the past 10 years has been transformational.
“I’m deeply grateful for his skill, heart, and soul. It’s his time to lead.”
Did Elon Musk buy Twitter?
On April 25, 2022, Twitter’s board and Elon Musk reached an agreement in reference to the latter buying the platform for $44billion and making it a privately owned company.
Musk stated: “Free speech is the bedrock of a functioning democracy and Twitter is the digital town square where matters vital to the future of humanity are debated.
“I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.
“Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”
However, the above-mentioned deal fell out in July 2022 but the talks resumed months later in October.
On Tuesday, October 4, Twitter’s investment relations account tweeted: “We received the letter from the Musk parties which they have filed with the SEC.
“The intention of the Company is to close the transaction at $54.20 per share.”