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Twitter co-founder Jack Dorsey retained a 2.4% stake in the microblogging site after Elon Musk completed his $44 billion acquisition, according to a new filing  with the Securities and Exchange Commission.

By the numbers: The filing indicates that Dorsey rolled over some 18 million shares when Twitter became private. 

The value of the former Twitter CEO's shares represents about $1 billion, saving Musk a substantial payout to Dorsey, per Business Insider.

The big picture: Dorsey has been supportive of Musk taking over Twitter since before he left the social media company's board of directors last May. 

Go deeper... Axios Podcast — How It Happened: Elon Musk vs. Twitter 

Twitter co-founder Dorsey holding onto stake in company

The Twitter co-founder retained a 2.4% stake in the microblogging site, new filings show.

Jack Dorsey, co-founder of Twitter, on stage at the Bitcoin 2021 Conventionon June 04, 2021 in Miami, Florida.

Jack Dorsey, Twitter co-founder, at a 2021 event in Miami, Florida. Photo: Joe Raedle/Getty Images

Twitter

Big Tech

Elon Musk

Twitter co-founder <a class="gtmContentClick" data-vars-link-text="Jack Dorsey" data-vars-click-url="https://www.axios.com/2022/04/26/jack-dorsey-elon-musk-twitter-deal-trust-solution" data-vars-content-id="8454445f-a82f-40a9-bad2-cb38f265c8f6" data-vars-headline="Twitter co-founder Dorsey holding onto stake in company" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2022/04/26/jack-dorsey-elon-musk-twitter-deal-trust-solution" target="_self">Jack Dorsey</a> retained a 2.4% stake in the microblogging site after <a class="gtmContentClick" data-vars-link-text="Elon Musk completed" data-vars-click-url="https://www.axios.com/2022/10/28/elon-musk-twitter-ownership" data-vars-content-id="8454445f-a82f-40a9-bad2-cb38f265c8f6" data-vars-headline="Twitter co-founder Dorsey holding onto stake in company" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2022/10/28/elon-musk-twitter-ownership" target="_self">Elon Musk completed</a> his $44 billion acquisition, according to a <a class="gtmContentClick" data-vars-link-text="new filing" data-vars-click-url="https://www.sec.gov/Archives/edgar/data/1418091/000119312522274034/d393652dsc13d.htm" data-vars-content-id="8454445f-a82f-40a9-bad2-cb38f265c8f6" data-vars-headline="Twitter co-founder Dorsey holding onto stake in company" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.sec.gov/Archives/edgar/data/1418091/000119312522274034/d393652dsc13d.htm" target="_blank">new filing</a> with the Securities and Exchange Commission.By the numbers: The filing indicates that Dorsey rolled over some 18 million shares when Twitter became private.

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