Billionaire Twitter Cofounder Evan Williams Unloaded Nearly Half Of His Twitter Stake Since April

From Forbes: Evan Williams, who helped invent Twitter more than a decade ago and briefly served as its CEO, has unloaded nearly half of his Twitter stake since April, documents filed with the Securities and Exchange Commision show. Because he is required to pay taxes on his capital gains every time he sells shares, Forbes now pegs his net worth at just under $1.7 billion, down from $1.8 billion, according to Forbes Real-Time ranking.

As of Twitter’s April 11, 2018 proxy, Williams held about 29 million Twitter shares, or 3.9% of the company’s stock. He now has about 14.6 million Twitter shares, after giving away nearly 3.7 million Twitter shares, and selling just under 10.8 million shares.

Williams, a Twitter board member, gave away 3.7 million Twitter shares on November 27, nearly 3.1 million of which -- worth a bit more than $100 million -- went to his and his wife Sara’s charitable foundation, Someland Foundation (previously called the Sara and Evan Williams Foundation). Recipients of the remaining shares weren’t named, but could have gone to donor advised funds or nonprofits.

Most of the share sales took place over the past four months. As a result of the sales and gifts, Williams’ Twitter stake has dropped by almost half since April. A spokesperson for Williams declined to comment.

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