Elon Musk Made Another $1 Billion from His Twitter Stake. As If He Needs It

CNN Business2022-04-07

New York (CNN Business) - Elon Musk has gotten a lot of attention from buying a 9.1% stake in Twitter, along with landing a seat onthe company's board. He's also worth an additional $1 billion.In a ...

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Comments

Tanyl
2022-04-07
Tanyl
Can invest Twitter as well
Zen0321
2022-04-07
Zen0321
😂
malayatigre
2022-04-07
malayatigre
i need it
moneytome
2022-04-07
moneytome
I need it more than him
kencarrot
2022-04-07
kencarrot
Lol
LenaNg
2022-04-07
LenaNg
👍

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As If He Needs It\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-07 11:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://edition.cnn.com/2022/04/06/investing/elon-musk-twitter-stake-profit/index.html><strong>CNN Business</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>New York (CNN Business) - Elon Musk has gotten a lot of attention from buying a 9.1% stake in Twitter, along with landing a seat onthe company's board. He's also worth an additional $1 billion.In a ...</p>\n\n<a href=\"https://edition.cnn.com/2022/04/06/investing/elon-musk-twitter-stake-profit/index.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TWTR","symbol_name":"Twitter","start_time":0,"source_url":"https://edition.cnn.com/2022/04/06/investing/elon-musk-twitter-stake-profit/index.html","article_id":"1173645974","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1173645974","pubTimestamp":1649303188,"sourceInfo":null,"weMediaInfo":null,"summary":"Call it a rounding error.In fact Musk disclosed onTwitterWednesday that he had made an error in his initial filing that showed he had purchased 73.5 million shares, which works out to a 9.2% stake in the company.His filing Tuesday night disclosed the correct number of shares: 73.1 million shares, or a 9.1% stake. 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The average price was $36.16 per share.The news of his Twitter investment sent shares up 27% Monday, and another 2% by Tuesday's close, before slipping slightly in Wednesday trading. But even with that step back in price, Musk is looking at an on-paper profit of roughly $1.1 billion on his $2.6 billion investment. That equates to a return of about 40%. Not bad for a two-month investment.Of course, that amount is essentially sofa cushion change for the world's richest human being. Musk's initial investment represented less than 1% of his net worth, which Forbes estimates at $282 billion. A $1 billion profit? Call it a rounding error.In fact Musk disclosed on Twitter Wednesday that he had made an error in his initial filing that showed he had purchased 73.5 million shares, which works out to a 9.2% stake in the company.His filing Tuesday night disclosed the correct number of shares: 73.1 million shares, or a 9.1% stake. 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