Steve Ballmer takes 4% stake in Twitter

October 17 01:31 2015

Los Angeles Clippers owner and former Microsoft CEO Steve Ballmer has taken a 4% stake in Twitter over the past few months, he said in a tweet on Friday. In the tweet, Ballmer said he’s impressed with new chief executive Jack Dorsey and his push to speed innovation at the social media company.Twitter1

Ballmer also mentioned Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud who said this month he and his investment firm had increased their stake in Twitter to 5.2%, Ballmer did not respond to an email seeking comment. He confirmed to Bloomberg in an email that he had build up the stake in Twitter.

The stake makes Ballmer the third-largest individual shareholder in Twitter, ahead of Dorsey, who co-founded the company and has a 3% stake.Twitter co-founder Evan Williams has a 6.8% stake. Twitter is trying to engineer a turnaround to reignite growth and reach more mainstream users. This week Twitter said it would cut 8% of its workforce to refocus the company. “Good job @twitter,@twittermoments innovation, @jack Ceo, leaner, more focused. Glad I bought 4% past few months. Like @alwaleedbinT move too,” Ballmer wrote.