NEW YORK (AP) — Los Angeles Clippers owner and former Microsoft CEO Steve Ballmer says he bought a 4-percent stake in Twitter and complimented the messaging company’s recent moves.
That makes Ballmer one of Twitter’s largest shareholders.
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.
Twitter is trying to win more users and turn a profit. This month, its co-founder Jack Dorsey returned as its permanent CEO, it said it would lay off up to 8 percent of its workforce and unveiled a new feature, “Moments.”
Most Read Business Stories
- Stranded sailors rely on this Walmart of the seas. COVID made it hard to stay afloat
- What my dog taught me about investing
- Here's a question: How much are you willing to pay for a burger or burrito?
- 5 takeaways from Seattle’s red-hot 2021 housing market, and the year's priciest sales
- Cruise ship changes course after US judge orders seizure
Shares of Twitter Inc. rose 4.9 percent in afternoon trading. They are down 40 percent since late April.