 At the time, Goldman's position as lead underwriter for Twitter was considered "one of the biggest tech prizes around".Goldman earned approximately $22.8 million in fees from the Twitter IPO; however, the chief economist and strategist at ZT Wealth said, "Goldman being the first name on the S-1 has little to do with fees.This is about Goldman rebalancing itself as a serious leader and competing with Morgan Stanley's dominant position in technology."