Deals and IPOs

Twitter shares pop on report of Ballmer investment

Steve Ballmer is rumored to have bought a 4 percent stake in Twitter.
Kevork Djansezian | Bloomberg | Getty Images

Twitter's stock rose on Friday after a Bloomberg report said former Microsoft CEO Steve Ballmer took a 4 percent stake in the company.

Earlier on Friday, an unverified Twitter account claiming to be Ballmer said he had taken the stake in the company.


CNBC later confirmed the report, the authenticity of Ballmer's account and his stake in Twitter.

Ballmer's 4 percent stake makes him a bigger shareholder than CEO Jack Dorsey, who owns 3.2 percent of Twitter's shares outstanding.

Jack Dorsey, CEO of Twitter.
Twitter's Dorsey: 'We should question' how we hire

Ballmer was Microsoft's chief executive for over a decade and is currently the owner of the NBA's Los Angeles Clippers.

Twitter's stock intraday

Source: FactSet

—CNBC's Jessica Golden and Robert Hum contributed to this report.