Jack Dorsey Retains Stake in Twitter, Saving Elon Musk $1 Billion

Jack Dorsey, co-founder of Twitter and Square, speaks on stage at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood, in Miami, Fla., on June 4, 2021. Joe Raedle/Getty Images

Twitter co-founder and former CEO Jack Dorsey has retained his 2.4 percent stake in the social media platform after it was acquired by Tesla CEO Elon Musk, according to a new filing with the Securities and Exchange Commission.

According to the filing, Dorsey retained more than 18 million shares in Twitter, valued at about $1 billion when the company became private.