On Monday, Twitter co-founder Jack Dorsey night called Elon Musk’s $44 billion takeover and privatization of Twitter the “right path” for the company. “Elon’s goal of creating a platform that is ‘maximally trusted and broadly inclusive’ is the right one,” Dorsey tweeted. The former CEO also thanked Musk and Twitter CEO Parag Agrawal “for getting the company out of an impossible situation. This is the right path…I believe it with all my heart,” wrote Dorsey, who stepped down as CEO of Twitter in November.
Elon’s goal of creating a platform that is “maximally trusted and broadly inclusive” is the right one. This is also @paraga’s goal, and why I chose him. Thank you both for getting the company out of an impossible situation. This is the right path…I believe it with all my heart.
— jack⚡️ (@jack) April 26, 2022
Elon is the Singular Solution I Trust, Tweets Jack Dorsey
Jack Dorsey approved Musk’s vision, stating that operating Twitter as a company “has always been my sole issue and my biggest regret” and that “Taking it back from Wall Street is the correct first step. In principle, I don’t believe anyone should own or run Twitter,” he tweeted. “It wants to be a public good at a protocol level, not a company. Solving 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.”
Elon Musk Acquired Twitter for $44 Billion
Elon Musk, whose massive deal was accepted by the Twitter board on Monday, said he wanted to acquire Twitter to restore the platform’s commitment to free speech principles. Twitter confirmed the sale of the company to Musk for USD 44 billion. Under the terms of the deal, shareholders will receive USD 54.20 in cash for each share of Twitter stock they own, matching Musk’s original offer and marking a 38 percent premium over the stock price the day before Musk announced his stake in the company.
In addition to this, the current CEO of Twitter, Parag Agrawal, who took over from Jack 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 is 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.