Elon Musk refiled the disclosure of his stake in Twitter Inc. to classify himself as an active investor, making the change after taking a seat on the social media company’s board.
Musk, a billionaire who is chief executive officer of Tesla Inc., filed a form 13D with the U.S. Securities and Exchange Commission on Tuesday, disclosing a stake of 9.1%. The new filing indicates that Musk plans to take an active role in shaping Twitter’s agenda. The form he used on Monday, a 13G, is reserved for investors who plan to be passive.
The board appointment ends the possibility of Musk mounting a takeover of Twitter, capping his ownership at 14.9% during his time on the panel, according to an earlier filing with the Securities and Exchange Commission on Tuesday. His ownership stake makes him Twitter’s biggest stockholder.
