{"id":63032,"date":"2015-10-19T07:50:36","date_gmt":"2015-10-19T12:50:36","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=63032"},"modified":"2025-01-10T06:03:31","modified_gmt":"2025-01-10T11:03:31","slug":"ex-microsoft-ceo-says-hes-taken-4-stake-in-twitter","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2015\/10\/19\/ex-microsoft-ceo-says-hes-taken-4-stake-in-twitter\/","title":{"rendered":"Ex-Microsoft CEO says he\u2019s taken 4% stake in Twitter"},"content":{"rendered":"
\"(Denys<\/a>
(Denys Prykhodov \/ Shutterstock)<\/figcaption><\/figure>\n

NEW YORK — Los Angeles Clippers owner and former Microsoft CEO Steve Ballmer has bought a 4-percent stake in Twitter, a vote of confidence in the struggling messaging company.<\/p>\n

That makes Ballmer one of Twitter’s largest shareholders.<\/p>\n

A Twitter account that identified itself as Ballmer’s said Friday morning that he bought stock in Twitter in the last few months. Seth Burton, a representative for the Clippers, confirmed that Ballmer had made the investment.<\/p>\n

The high-profile investment comes as Twitter is trying to win more users and turn a profit. This month, its co-founder Jack Dorsey returned as its permanent CEO. Then the company announced that it would lay off up to 8 percent of its workforce and unveiled a new feature, “Moments.” Those packages of commentary, video and photos about major events are an attempt to make Twitter more accessible and broaden its appeal.<\/p>\n

The company’s shares lost about half their value between late April and late August as investors worried about Twitter’s disappointing financial performance and slowing user growth. The nine-year-old company has never reported an annual profit.<\/p>\n

The stock has recovered some of those losses as the broader markets rose in October, and is up $1.51, or 5.1 percent, to $31.22 in afternoon trading.<\/p>\n

Ballmer also said he liked that Saudi billionaire Prince Alwaleed bin Talal and his investment company bought more shares of Twitter.<\/p>\n

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The prince and his firm said this month the stake had doubled over a six-week period to more than 5 percent.<\/p>\n

Dorsey was the San Francisco company’s CEO during its early years and became interim CEO in July, when Dick Costolo stepped down.<\/p>\n

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Twitter said on Oct. 5 that he would become its permanent CEO. Ballmer tweeted that day that Twitter “is remarkable” and called Dorsey an “impressive dude.<\/p>\n

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”<\/p>\n

According to FactSet, Ballmer’s holdings would make him the third-largest individual owner of Twitter shares after company co-founder Evan Williams and bin Talal. Ballmer, who was Microsoft’s CEO for 14 years ending last year, is also the largest individual owner of Microsoft stock with a 4.2-percent stake.<\/p>\n","protected":false},"excerpt":{"rendered":"

NEW YORK — Los Angeles Clippers owner and former Microsoft CEO Steve Ballmer has bought a 4-percent stake in Twitter, …<\/p>\n","protected":false},"author":44,"featured_media":57061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1482,19,5],"tags":[],"class_list":["post-63032","post","type-post","status-publish","format-standard","has-post-thumbnail","category-breaking","category-business","category-technology","mauthors-marley-jay","mauthors-the-associated-press"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/63032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=63032"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/63032\/revisions"}],"predecessor-version":[{"id":282129,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/63032\/revisions\/282129"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/57061"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=63032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=63032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=63032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}