Former CEO Of Microsoft Buys 4% Twitter Stocks

Former CEO Of Microsoft Buys 4% Twitter Stocks

Microsoft’s former CEO, Steve Ballmer, now owns 4% stake in Twitter.

The social media giant has good news when it comes to its stocks. According to Bloomberg reports, ex-CEO of Microsoft’s, Steve Ballmer, has managed to attain 4% of stocks of Twitter, which is even more then the company’s own chief executive, Jack Dorsey, who has 3% of shares and another co-founder Ev Williams has 6.8% of shares.

The former CEO of Microsoft tweeted, “Good job @twitter, @twittermoments innovation, @jack Ceo, leaner, more focused. Glad I bought 4% past few months. Like @alwaleedbinT move too”, on October 16, early morning, which was a clear statement and evidence of him being happy for buying the shares. He even appreciated the recently re-appointed CEO, Jack Dorsey for making the company better and, according to him, ‘more focused’.

Mr. Ballmer appreciated the fact that the social media giant has been making remarkable attempts to keep users motivated and even get attention of new users by launching new products on site recently. He mentioned the Project Lightning or the new Moments feature in his tweet, which is similar to Snapchat’s live stories, so that users can get more insight on what is happening around the world.

An unverified account of Mr. Ballmer tweeted about the 4% shares. Hence, the claim has not yet been verified if he actually has 4% of shares in the company. There are speculations about the account being hacked as well but a tweet by the ex-chief executive earlier this month leads to the conclusion that the account does belong to him.

The 4% of shares, which is approximately $800 million, of the company might have made a good impression on its market altogether and given it a boost of much-needed confidence. Twitter Inc. also made the announcement not so long ago about trimming its workforce down by 8%.

Steve Ballmer’s intentions on buying the shares are being speculated. The microblogging platform has lost in the game of keeping its users attracted and has been attempting to change that. Bloomberg reported that an analyst, Kames Cakmak, said that Microsoft’s former CEO might be interested in becoming a part of Twitter’s board of directors and since he is the owner of the LA Clipper basketball team, he thinks he can provide Twitter important sports-related insight and business by getting authentic information regarding events. According to Bloomberg, Steve Ballmer has a net worth of $21.4 billion.

Twitter stock closed at $31.15 on October 16.

 

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