Twitter takeover: Jack Dorsey says Elon Musk is ‘solution I trust’
Twitter co-founder Jack Dorsey has backed Elon Musk’s controversial $44bn (£34bn) takeover of the micro-blogging platform, describing the billionaire as “the singular solution I trust”.
The 45-year-old, who co-founded the company in 2006 and floated it on the New York Stock Exchange in 2013, said it has been “owned” by Wall Street and that Musk’s deal struck on Monday to take it private was the “correct first step”.
However, Dorsey, who stepped down as Twitter chief executive in November and will receive a $978m payout for his 2.4% stake when the deal is completed later this year, said that ultimately “in principle I don’t believe anyone should own or run Twitter”.
“It wants to be a public good at a protocol level, not a company,” he said, in a series of tweets. “Solving for the problem of it being a company however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.”
Parag Agrawal, who took over from Dorsey as chief executive, has told staff that their jobs are only safe for about the six months it will take to get the deal done.
“Once the deal closes, we don’t know which direction the platform will go,” said Agrawal, who is in line for a $38.7m pay package due to a “change of control” clause in his contract.
Human rights groups including Amnesty International and Human Rights Watch raised concerns that hate speech may be allowed to flourish after the change in ownership. Musk, who is the world’s richest person, has described himself as a “free speech absolutist” and has criticised Twitter’s moderation policies.
“While Elon Musk is an American Civil Liberties Union (ACLU) card-carrying member and one of our most significant supporters, there’s a lot of danger having so much power
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