{"id":14246,"date":"2022-11-01T11:44:01","date_gmt":"2022-11-01T11:44:01","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/former-twitter-ceo-jack-dorsey-keeps-2-4-twitter-shares\/"},"modified":"2022-11-01T11:44:01","modified_gmt":"2022-11-01T11:44:01","slug":"former-twitter-ceo-jack-dorsey-keeps-2-4-twitter-shares","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/former-twitter-ceo-jack-dorsey-keeps-2-4-twitter-shares\/","title":{"rendered":"Former Twitter CEO Jack Dorsey Keeps 2.4% Twitter Shares"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Under Elon Musk\u2019s new ownership, former<\/a> Chief Executive Officer Jack Dorsey has retained a share in Twitter, which equates to roughly $1 billion in value.<\/p>\n

According to a recent SEC filing<\/a>, Dorsey agreed to transfer his remaining 2.4% share in the firm he co-founded to Musk\u2019s new holding company for Twitter, X Holdings I Inc. According to the filing, the value of Dorsey\u2019s nearly 18 million shares is little more than $1 billion. That is money that Musk did not have to come up with in order to purchase the firm. The filing detailed:<\/p>\n

\u201cAs of the Reporting Event Time, Mr. Dorsey beneficially owned an aggregate of 18,042,428 shares of Common Stock, which consisted of (i) 15,704,901 shares held of record by Mr. Dorsey, Trustee of The Jack Dorsey Revocable Trust u\/a\/d 12\/08\/2010 and (ii) 2,337,527 shares held of record by the Dorsey LLC, the sole manager of which is Jack Dorsey, and the sole member of which is The Jack Dorsey Remainder Trust #3 u\/a\/d 6\/23\/2010, as decanted. Mr. Dorsey had the sole power to vote and direct the disposition of all such 18,042,428 shares of Common Stock, which represented 2.4% of the Issuer\u2019s outstanding shares of Common Stock.\u201d<\/em><\/p>\n

Dorsey\u2019s friend Elon Musk bought Twitter for $44 billion<\/a> last week by using Wall Street loans to pay for the deal. As part of the agreement, shareholders agreed to roll over their shares and give Musk a share in the company.<\/p>\n

With shares no longer publicly traded, Twitter now has a new set of top investors.<\/p>\n

Not only has the world\u2019s largest cryptocurrency exchange Binance<\/a>, invested $500 million in Musk\u2019s mission to secure free speech<\/a>, other notable investors are the prince of Saudi Arabia, Prince Alwaleed bin Talal who moved roughly $1.9 billion worth in shares at the $54.20 per share sale price, through his Kingdom Holding Co. fund.<\/p>\n

Another $375 million was raised by a subsidiary of the sovereign wealth fund of Qatar.<\/p>\n

Other big backers of Musk\u2019s Twitter takeover include crypto-focused investment firms, Sequoia Capital Fund and Fidelity<\/a>.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Under Elon Musk\u2019s new ownership, former Chief Executive Officer Jack Dorsey has retained a share in Twitter, which equates to roughly $1 billion in value. According to a recent SEC filing, Dorsey agreed to transfer his remaining 2.4% share in the firm he co-founded to Musk\u2019s […]<\/p>\n","protected":false},"author":5,"featured_media":14247,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/14246"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=14246"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/14246\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/14247"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=14246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=14246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=14246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}