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Former Microsoft CEO Steve Ballmer Buys Twitter Stake

Steve Ballmer now has his own verified account

Oct 19, 2015 08:16 GMT  ·  By
Ballmer was Microsoft's CEO until last year
   Ballmer was Microsoft's CEO until last year

If you’re a long-time Twitter user and can’t figure out a way to get your account verified as fast as possible, Steve Ballmer might have just found the answer.

Ballmer has recently purchased a 4 percent stake in Twitter, which has instantly got his account verified on the social service, while also opening new opportunities in the tech world for the man who spent 13 years at the helm of the biggest software company on the planet.

Currently the owner of NBA basketball team Los Angeles Clippers, Ballmer just couldn’t stay away from the tech business, so he has recently decided to purchase a hefty stake in Twitter. The news has been revealed by Ballmer himself, who has posted the announcement on Twitter because this is now his own online service.

“Good job @twitter,@twittermoments innovation, @jack Ceo, leaner, more focused. Glad I bought 4% past few months. Like @alwaleedbinT move too,” he tweeted during the weekend.

His role at Twitter

We’re pretty sure that Ballmer’s critics will soon step in and claim that Twitter is the next firm he’ll destroy, but actually, the former Microsoft CEO won’t get too involved at the company. Basketball is still his number one hobby, so buying a stake in Twitter is more like a way to remain involved in the tech industry after completely retiring from Microsoft.

Most likely, Ballmer also sees a huge growth opportunity for Twitter, and since he’s quite a businessman, the amount of money he invested could soon double or triple if things are going in the right direction.

And speaking of the money he spent on the 4 percent stake, it’s not yet clear how much Ballmer invested, but regardless of the sum, he’s now the third biggest stakeholder in the company, after co-founder Evan Williams with 6.8 percent and Saudi Prince al-Waleed bin Talal with 5 percent.

Following Ballmer’s announcement, Twitter’s share at the New York Stock Exchange reached $30.64, an increase of 3.1 percent, which makes the 4 percent stake bought by the former Microsoft CEO worth $800 million (€704 million).