Former Microsoft CEO Steve Ballmer believes in Twitter so much that he dropped around $800 million on the company’s stock.
Ballmer revealed his sizable stake in a tweet on Friday, adding that he believes in the company’s new Moments feature.
He also referenced Alwaleed bin Talal, a Saudi prince that has amassed 5% of Twitter’s stock, making him the second-largest shareholder of the company.
Ballmer isn’t far behind. He claimed to now hold 4% of Twitter.
Good job @twitter,@twittermoments innovation, @jack Ceo, leaner, more focused. Glad I bought 4% past few months. Like @alwaleedbinT move too— Steve Ballmer (@Steven_Ballmer) October 16, 2015
CNBC confirmed that Ballmer had indeed bought big on Twitter.
The news of Ballmer’s stake wasn’t just a notable endorsement from the former CEO, who now spends his days as the owner of the Los Angeles Clippers basketball team. Shares in Twitter rose sharply following the announcement.
Twitter shares are now up 3.7% on the day.
Ballmer's investment makes him among the biggest shareholders of Twitter, even besting Jack Dorsey, who cofounded the company and recently returned as CEO.
Twitter's largest shareholders • Ev Williams 6.9% • Prince Alwaleed 5.2% • Steve Ballmer 4% • Jack Dorsey 3% http://t.co/LzRgP0wIoJ $TWTR— StockTwits (@StockTwits) October 16, 2015