Steve Ballmer Takes 4% Stake In Twitter, Owns More Than CEO Dorsey
Steve Ballmer, the former chief executive of Microsoft Corp has taken a 4% stake in Twitter Inc., this news was confirmed by his spokesman, and it made him the 3rd biggest shareholder in the Twitter.
Twitter’s total market value is $21 billion and Steve Ballmer’s stake is worth $800 million. The other two persons who are ahead of Ballmer as the individual stakeholders are Evan Williams (co-founder) and Prince Alwaleed Bin Talal (Saudi billionaire).
Soon after Ballmer tweeted that he built up his stake in the past few months, the Twitter’s share rose to 5.6% on October 17.
After getting retired as Microsoft CEO in February, Steve Ballmer acquired the Los Angeles Clippers basketball team, and his personal fortune is of $21.5 billion, which makes him the 35th richest person in the world as per the research of Forbes Magazine.
However, there is no guarantee that twitter will get huge success because of his backing as an investor. During his leadership at Microsoft for 14 years, the shares of Microsoft got declined. According to the data from Thomson Reuters, Steve Ballmer now owns more of Twitter than Dorsey (3.2% stake), the CEO and co-founder of the social media Company. The largest individual stakeholder is Williams with about 7.5% stake, and Alwaleed is in the second position with 5.2% stake.