Rizvi Traverse Management LLC, managed by secretive investor Suhail Rizvi, has halved its stake in Twitter Inc and increased its holding in mobile payments company Square Inc, regulatory filings showed on Friday.
When Twitter’s IPO was in the works, Suhail Rizvi quietly amassed a stake of more than 15% in the microblogging phenomenon for himself and his investors, Reuters reported.
Rizvi also played a role in convincing Kingdom Holding Co, Saudi Prince Alwaleed bin Talal’s investment company, to buy additional Twitter stock, Reuters reported in 2013.
His private-equity firm owned 1.4 million Twitter shares as of June 30, down 50% from March 31, according to a filing. That would give him a stake of about 0.2%, according to a Reuters calculation.