Twitter founder Jack Dorsey backs Elon Musk's company acquisition
Twitter founder Jack Dorsey ...
Subscribe to Newsletter

Twitter founder Jack Dorsey backs Elon Musk's company acquisition

26 April 2022
9910
1 min.
5
Twitter founder Jack Dorsey backs Elon Musk's company acquisition

Musk and Twitter

Twitter founder and former CEO Jack Dorsey has backed the purchase of the company by US entrepreneur Elon Musk.

According to Dorsey, he regretted that Twitter, being a public company, was effectively owned by investors and advertisers.

Dorsey stressed that Twitter, in his view, should be "not a company but a public good". He said: "Elon Musk is the only one best suited to this task."

The Twitter founder also said he supported Musk's desire to "create the most robust and broadly inclusive platform possible", noting that current CEO Parag Agrawal had similar guidelines.

On 29 November last year, Dorsey announced that he had ceased to serve as the company's CEO. That position was taken over by Twitter's CTO Agrawal, whose appointment was unanimously supported by board members.

On 25 April, Twitter's management announced that Musk was buying the company for $44 billion. As Agrawal said at an internal meeting with employees, quoted by Reuters, Twitter does not yet have a clearly defined development strategy after the deal.

Moreover, amid the news surrounding Twitter, Twitter's shares closed at $51.70 in yesterday's trading, adding +5.66 per cent. The maximum value per share was USD 52.29, while the minimum value was USD 50.24.

Also in the last five days the stock gained +9.42%. It is worth noting that Twitter has a market capitalisation of US$39.48 billion as of today.

Persons3 and Companies2 in the news

Former Chief Executive Officer of Twitter
1 place
Chief Executive Officer of Square
2 place
CEO of Tesla
3 place
X (Twitter)
1 place
Reuters
2 place
Section:

NEW YORK NEWS

News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Population
8173048753
Died this year
55629335
Born this year
136858010