By: Economic & Finance Report
It looks like there is a Twitter alliance brewing between the billionaire who wants to buy the company and take it private (Elon Musk); and the billionaire who recently sits on its board and cannot wait to exit it later this year (2022) (Jack Dorsey). Jack Dorsey and Elon Musk have been friends for a long time, and both respect each other’s business acumen. It is no wonder both men have launched scathing diatribes at Twitter’s board almost collectively.
This kind of alliance is rarely made in the fictional novels; nor was this predicted to come to fruition by both gentlemen. As both men Musk and Dorsey; have characterized the board as somewhat dysfunctional, in their operations. They see it fit for the board to be completely hauled over; revamped or disintegrated.
It is good to note that after Elon Musk 9.2% stake in the company; Dorsey has a 2.25% stake in it. He is the second largest individual shareholder of Twitter, after Elon Musk. Musk has indicated if; or when he takes over the company (and privatizes it); members of Twitter’s board will have zero/nil/zilch/cero/0 (numeral) of compensation; which would be effective immediately, once it is overhauled or taken over by Musk. He has made this quite clear. -SB
Image Source: Yahoo Finance
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