Billionaire Twitter cofounder Ev Williams is selling a significant chunk of his $630 million stake in Twitter, but he went out of his way to explain why. On Thursday, Williams wrote a Medium post explaining a recently disclosed Twitter stock sale and his plan sell more Twitter stock going forward. In a statement, Twitter said Williams is not expected to sell more than 30% of his holdings and described him as a "champion of Twitter since Day 1." If Williams were to sell 30% of his Twitter shares today, he would get approximately $125 million after taxes. News that the company's biggest individual shareholder is shedding shares could be interpreted as a lack of faith in the company; Twitter stock fell 1% on Thursday after the news broke.

Source: Forbes April 07, 2017 00:11 UTC