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Steve Ballmer praises Twitter job cuts after buying 4% stake in ailing micro-blab site

Ex-Microsoft chief now big shareholder in profitless firm

Erstwhile Microsoft CEO Steve Ballmer revealed on Friday that he had recently acquired a 4 per cent stake in troubled micro-blurting site Twitter.

The news came in a tweet from Ballmer who congratulated Twitter on its decision earlier this week to cut costs by lopping off 8 per cent of its workforce.

Ballmer, who is now the owner of basketball team LA Clippers, has become one of the biggest shareholders in Twitter. According to Forbes, the ex-MS chief's net worth is $23bn.

Shares in Twitter climbed nearly 5 per cent on the New York Stock Exchange at close of play on Friday, after Ballmer tweeted that he had bought a stake in the company. ®

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