can a stakeholder become a shareholder

Yes, via several methods.

Either can purchase shares/stock in the company while an employee or director.

Either could agree to be paid with company shares in lieu of cash.


An employee could participate in a company's profit sharing plan that includes stock purchases.

Employees and directors could participate in a company buy out plan in which the ownership of a company is acquired via purchase of stocks.

I don't think the term "stakeholder" has any legal meaning. When I have heard this term used, it means everyone who has any interest in seeing the business succeed (including any employees as well as directors owners and board members... everyone). What counts as having an interest is probably a matter of opinion.

A shareholder is a legal term for someone who actually owns a portion of the company.

So yes, a stakeholder can become a shareholder. For this to happen, they just need to buy or otherwise obtain a share (i.e. stocks). This has happened a couple of times in my career where I as a stakeholder (employee) got stocks... once through an merger and another time through a stock purchase plan.

Any shareholder is by definition a stakeholder.