Bill Gates, Melinda Sell Shares in Apple, Twitter Due to South Korean Firm
- Apple and Twitter have lost Bill and Melinda Gates as investors after the former couple sold their shares
- Bill and Melinda sold their shares in both companies before announcing their divorce
- The ex-couple used the capital from the sold shares to invest in South Korean e-commerce firm, Coupang
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Bill & Melinda Gates Foundation have sold all their shares in Apple and Twitter just to purchase stock in a South Korean firm, Coupang, which operates in global e-commerce market.
The couple had sold their one million Apple shares and the 272,420 Twitter shares by the end of the first quarter in 2021, indicating the sale took place before their divorce was made public
The capital from the sold shares was divested into Coupang which had its public listing in March. The divestment from Apple came at a period the smart gadget firm's stock was losing market value.
Apple share value had depreciated by 8% in the first quarter of 2021, before rebounding by 2.7% in the second quarter of this year, while Twitter had performed well in Q1 with 17.5% rise - although it has slumped 14.4% in the second quarter.
Source: Getty Images
According to filings by the Gates Foundation at the Securities and Exchange Commission, Bill and Melinda purchased 5.7 million Coupang shares, which has declined by 23.0% in value
Meanwhile, Legit.ng had previously reported that in 24hours, bitcoin investors gained $73.45 billion after the cryptocurrency rose by 13.01% during the same period.
The market capitalisation of bitcoin increased from $666.83 billion in the early hours of Monday to $739.83 billion on Tuesday morning, reflecting a bit of improvement in investor confidence which Elon Musk's tweet had shattered.
Bitcoin market value had collapsed on the back of Musk's tweet which informed the cryptocurrency community that Tesla will no longer receive the crypto as payment option.
It is not certain if the bearish run has ended, as bitcoin price remains unstable.
Source: Legit.ng
