Since its conception, millions upon millions of users have used Twitter to express themselves and their opinions.
While Jack Dorsey, Elon Musk and others continue to negotiate a deal for the platform’s ownership, Twitter users are curious who it actually belongs to.
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Who owns Twitter
Twitter shares and their ownership are not owned by one person. They are shared among several private investment companies, retail businesses and individuals who work for the app.
The Vanguard Group, an investment management firm based in Pennsylvania, holds the most Twitter shares.
The Vanguard Group owns 8.95% of Twitter. This makes them the biggest shareholder.
BlackRock Fund Advisors holds the second highest share of ownership.
New York City’s public agency owns 4.66% of Twitter.
SSgA Funds Management Inc ranks third, while Fidelity Management & Research and Pentwater Capital Management LP respectfully rank fourth and fifth in terms of ownership.
Elon Musk bought 9.5 percent of Twitter on April 4, 2022. He was the first to own it.
Musk announced his resignation from the company on Monday, August 11, a few months later.
Musk sold his share of the platform. The aforementioned organizations were able to resume their positions in the app’s ownership roster.
When was Twitter created?
Twitter was created by Jack Dorsey on March 21, 2006 by Christopher Isaac Stone and Noah E Glass. Jeremy LaTrasse and Evan Williams also founded Twitter.
The app was created from the remains of Williams and Glass’ failed podcast startup Odeo.
Stone, LaTrasse and Dorsey joined Odeo later on, which evolved into Twitter.
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It was founded in July 2012 and has its headquarters in San Francisco, California.
Dorsey, the CEO of Dorsey, announced his resignation on November 29, 2021.
Co-founder Dorsey who holds 2.4 percent of the company stated in his announcement that Parag Agrawal would be taking over as CEO.
Dorsey said: “I have decided to leave Twitter because the company is ready for me to move on from its founders.
“My trust in Parag, Twitter’s CEO, is deep. His contribution over the past ten years has been transformative.
“I’m deeply grateful for his skill, heart, and soul. It’s his time to lead.”
Has Elon Musk bought Twitter?
Twitter’s board reached an agreement with Elon Musk on April 25, 2022 to refer to Musk purchasing the platform for $44billion.
Musk said that free speech is the foundation of a functioning democracy. Twitter is the digital square where vital issues for the future of humanity can be discussed.
“I also want Twitter’s best ever features and algorithms to increase trust.
“Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”
The above-mentioned agreement was not reached in July 2022, but talks were resumed in October.
Twitter’s investment relations Twitter account tweeted on Tuesday, October 4,: “We received the Musk parties letter which they have submitted to the SEC.
“The intention of the Company is to close the transaction at $54.20 per share.”