Ex-Microsoft CEO says he's taken 4 percent stake in Twitter

AP News
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Posted: Oct 16, 2015 2:45 PM
Ex-Microsoft CEO says he's taken 4 percent stake in Twitter

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."

Shares of Twitter Inc. rose 4.9 percent in afternoon trading. They are down 40 percent since late April.