A foundation controlled by Twitter co-founder Evan Williams and his wife, Sara, raised $46.7 million in November from the sale of Twitter shares that he apparently gifted to the organization, according to a new public filing.
The filing shows that Obvious LLC, a company Evan Williams controls, on Nov. 27 gave away nearly 2.8 million shares of Twitter stock for $0 apiece. At Tuesday’s closing price, those shares would have been worth $70.8 million.
The Sara & Evan Williams Foundation concurrently acquired 1.85 million of those shares at no cost, according to the Securities and Exchange Commission filing.
Three days later, the foundation offloaded those shares at an average price of $25.2527.
It’s not clear to whom Williams gifted the rest of the shares.
Williams still retains a 7% stake in Twitter worth about $1 billion, making him the company’s largest individual shareholder, according to MarketWatch.
A former CEO of Twitter, Williams served on the search committee that appointed fellow co-founder Jack Dorsey as the tech company’s permanent CEO, for a second time, in October.
“I honestly didn’t think we’d land on Jack when we started unless he could step away from Square. But ultimately, we decided it was worth it,” Williams said in a post on Medium giving his blessing to the hiring in October. “I’m confident this is exactly what Twitter needs at this time.”
Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey.
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