{"id":137411,"date":"2022-10-06T00:56:59","date_gmt":"2022-10-05T19:26:59","guid":{"rendered":"https:\/\/centralrecorder.com\/who-owns-twitter-and-when-was-it-founded\/"},"modified":"2022-10-06T00:57:13","modified_gmt":"2022-10-05T19:27:13","slug":"twitter-who-owns-it-when-was-it-founded","status":"publish","type":"post","link":"https:\/\/centralrecorder.com\/twitter-who-owns-it-when-was-it-founded\/","title":{"rendered":"Twitter who owns it? When was it founded?"},"content":{"rendered":"\n
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Since its conception, millions upon millions of users have used Twitter to express themselves and their opinions.<\/strong><\/p>\n

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.<\/p>\n

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Twitter users are confused by Jack Dorsey’s ownership of Twitter.<\/span>Credit: AFP<\/span><\/figcaption><\/figure>\n

Who owns Twitter<\/h2>\n

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.<\/p>\n

The Vanguard Group, an investment management firm based in Pennsylvania, holds the most Twitter shares.<\/p>\n

The Vanguard Group owns 8.95% of Twitter. This makes them the biggest shareholder.<\/p>\n

BlackRock Fund Advisors holds the second highest share of ownership.<\/p>\n

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New York City’s public agency owns 4.66% of Twitter.<\/p>\n

SSgA Funds Management Inc ranks third, while Fidelity Management & Research and Pentwater Capital Management LP respectfully rank fourth and fifth in terms of ownership.<\/p>\n

Elon Musk bought 9.5 percent of Twitter on April 4, 2022. He was the first to own it.<\/p>\n

Musk announced his resignation from the company on Monday, August 11, a few months later.<\/p>\n

Musk sold his share of the platform. The aforementioned organizations were able to resume their positions in the app\u2019s ownership roster.<\/p>\n

When was Twitter created?<\/h2>\n

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.<\/p>\n

The app was created from the remains of Williams and Glass\u2019 failed podcast startup Odeo.<\/p>\n

Stone, LaTrasse and Dorsey joined Odeo later on, which evolved into Twitter.<\/p>\n

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Twitter’s ownership is split by multiple organizations and individual shareholders<\/span>Credit: Getty<\/span><\/figcaption><\/figure>\n

It was founded in July 2012 and has its headquarters in San Francisco, California.<\/p>\n

Dorsey, the CEO of Dorsey, announced his resignation on November 29, 2021.<\/p>\n

Co-founder Dorsey who holds 2.4 percent of the company stated in his announcement that Parag Agrawal would be taking over as CEO.<\/p>\n

Dorsey said: “I have decided to leave Twitter because the company is ready for me to move on from its founders.<\/p>\n

“My trust in Parag, Twitter’s CEO, is deep. His contribution over the past ten years has been transformative.<\/p>\n

“I’m deeply grateful for his skill, heart, and soul. It’s his time to lead.”<\/p>\n

Has Elon Musk bought Twitter?<\/h2>\n

Twitter’s board reached an agreement with Elon Musk on April 25, 2022 to refer to Musk purchasing the platform for $44billion.<\/p>\n

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.<\/p>\n

“I also want Twitter’s best ever features and algorithms to increase trust.<\/p>\n

“Twitter has tremendous potential \u2014 I look forward to working with the company and the community of users to unlock it.”<\/p>\n

The above-mentioned agreement was not reached in July 2022, but talks were resumed in October.<\/p>\n

Twitter’s investment relations Twitter account tweeted on Tuesday, October 4,: “We received the Musk parties letter which they have submitted to the SEC.<\/p>\n

“The intention of the Company is to close the transaction at $54.20 per share.”<\/p>\n<\/div>\n