Before Elon Musk bought Twitter, its ownership consisted of its founders and investors – with Jack Dorsey holding the highest individual stake; Morgan Stanley and BlackRock served as institutional shareholders, holding shares on behalf of individual clients who purchased shares through them.
Twitter was established by Jack Dorsey, Noah Glass, and Biz Stone in March 2006. These three had previously collaborated at Odeo (a podcasting service).
Jack Dorsey is an American internet entrepreneur and programmer. In 2006 he co-founded Twitter along with Evan Williams; since 2008, he has also founded Square, which allows small businesses to accept credit card payments via their smartphones. Before Dick Costolo took over as CEO he served twice as Twitter’s interim CEO – once before Dick Costolo took over in 2008 and again in 2015.
Dorsey appeared before a Senate hearing in November 2020 to defend Twitter’s content moderation practices, which had come under criticism by Republicans and President Trump. Additionally, some users, such as Trump, were accused of spreading misleading information without facing the consequences from Twitter.
Despite the controversy, the deal went through in October 2022. Numerous disputes between both parties were eventually settled through arbitration with Delaware Judge McCormick. Musk claimed he purchased Twitter because he wanted it to become “a single solution for humanity,” not financial profit alone.
Twitter is one of the world’s most beloved social networking platforms, serving as a vital conduit for political revolutions, spreading news stories, and connecting people worldwide. While the company has undergone several leadership transitions recently, and its future remains unclear, despite this turmoil, it remains a profitable enterprise; institutional investors such as BlackRock Fund Advisors and Morgan Stanley Investment Management own most shares, while Jack Dorsey owns 2.25 percent.
Omid Kordestani was born in Tehran and educated at an Italian Catholic school known as Andisheh Don Bosco before moving to California to pursue business. Kordestani graduated with a bachelor’s degree in electrical engineering from San Jose State University before working at Netscape Communications, where his efforts helped increase website revenue from $88 million to $200 million within 18 months.
Alwaleed bin Talal
Alwaleed bin Talal, founder and CEO of electric car maker Tesla Inc, and worth $19.6 billion has now become Twitter’s second-largest shareholder after Elon Musk acquired it for $44 billion. Talal’s Kingdom Holding Company and Private Office transferred their current holdings of existing Twitter shares valued at $1.89 billion to the newly private-held Twitter entity, making them the second-largest investors.
Concerns have been expressed over the influence of foreign investors in US technology companies. Senator Chris Murphy from Connecticut has requested an evaluation of this deal to ensure foreign governments do not control social media platforms like Twitter. “We should be concerned that Saudis, whose government has shown an apparent interest in suppressing free speech and shaping US politics, now own significant shares in Twitter,” according to Murphy. He stated this must be scrutinized amidst tensions between both nations. The investment also follows months of increased tensions between Washington DC and Riyadh since 2015 resulting from growing tensions over Iran nuclear programme and Iran related sanctions measures taken against it by Washington against it by Riyadh against Iran sanctions regime against it by Washington this investment comes during times when relations between both countries sour further with each side strained by both sides reducing relations further between two governments with both seeking control of social media platform Twitter being taken over by an entity interested by governments interested by its ownership repressive practices against free speech by political pressure being exerted against free speech against free speech is due strained relations between America and Saudi Arabian regimes between nations has seen strain between their relationship being placed under close watch from both sides due to this investment coming at least six month earlier, coming amid tension between two governments between both countries’ governments are already under intense strains when relations between two governments’ governments have shown their respective investments making prominent strategic positions against each other with both investors threatening each other by this move by either the other than US government is increased or not getting in return than expected with regards. This move brings US lawmakers being used against American authorities while the other US and Saudi Arabia both being treated so strongly strained over issues as the tension between each other before now more closely held between them both; more of course now due strained between either way than before! Compared between US and/ US.
BlackRock, the world’s largest asset management firm, is an investment company headquartered in New York City. Over time it has acquired various legacy businesses and fintech startups to maintain its position at the top of its industry; BlackRock prides itself on having developed a distinct business model which sets them apart from rival firms.
Before Elon Musk purchased Twitter in October 2022, the social media website was publicly owned and traded on the Nasdaq stock market. He owns other companies like SpaceX, Tesla, The Boring Company, Neuralink, and OpenAI, which could potentially compete against Twitter in the future.
Recently, BlackRock CEO Larry Fink pledged to begin holding its holding companies accountable for being good corporate citizens. Unfortunately, his statement rings hollow as BlackRock continues investing in morally bankrupt weapons manufacturers who profit from wars that cause refugee crises worldwide and polluters who harm frontline communities with their operations.