Lastminute.com founder Martha Lane Fox set to gain $2M from Twitter sale



Lastminute.com co-founder Martha Lane Fox is set to pocket more than $2 million from the sale of Twitter to Elon Musk.

Baroness Lane Fox, who sits as a crossbench peer in the House of Lords, holds 34,000 Twitter shares and 4500 restricted stock units, according to the firm’s most recent proxy statement. She stands to make $2.1 million (£1.8 million) if shares are sold at $54.20 each per the terms of billionaire Musk’s takeover offer.

Musk re-committed to his original offer of taking Twitter private last night, in a dramatic U-turn for the world’s richest man after walking away from the deal amid concerns over the number of fake users on the platform, a move which prompted Twitter to begin legal action to force through the deal.

Lane Fox joined the board of Twitter in April 2016. She has expressed her support for recently-appointed Twitter boss Parag Agrawal, tweeting in November last year she was “so proud and thrilled” that he would become CEO. It comes in stark contrast to Musk’s remarks on Agrawall. In messages released during the Tesla CEO’s legal battle with Twitter, it emerged the billionaire sent the CEO a message asking: “What did you get done this week? I’m not joining the board. This is a waste of time,” before telling Twitter founder Jack Dorsey: “Parag is just moving far too slowly.”

Lane Fox was worth £30 million by age 27 according to the Daily Mail Rich Report, after founding travel and gift business lastminute.com. That was sold to Texas-based travel firm Sabre Corporation in 2005 for £577 million.

Alongside her Twitter role, Lane Fox also sits on the board of luxury French fashion business Chanel and is chair of Dutch fintech business WeTransfer.

UK-based banks, hedge funds and investment firms hold a combined 29% stake in Twitter worth $8.6 billion, according to Refinitiv data.





Source link


Like it? Share with your friends!

What's Your Reaction?

hate hate
0
hate
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win
Administrator

0 Comments

Your email address will not be published.

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube and Vimeo Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format