Twitter Inc co-founder Jack Dorsey on Wednesday asserted that he has no plans to head the social media giant again – hinting at his limited involvement if Elon Musk successfully closes the takeover deal. This statement comes after a recent regulatory filing showed that Musk was in talks with Dorsey to contribute his shares to the proposed acquisition, news agency Reuters reported.
Reportedly, Dorsey, who currently heads the payments firm Block Inc owns a 2.4 percent stake in Twitter.
Two years after launching Twitter, Dorsey was replaced as the social media company’s CEO in 2008. However, he had taken over the position again in 2015 before ceding the role to chief technology officer Parag Agarwal in 2021.
Tesla chief executive officer Elon Musk bought Twitter following a $44 billion deal on April 25. Reports suggest that Musk may temporarily take over the top job of the social media company.
Meanwhile, former CEO Jack Dorsey on Wednesday agreed with Elon Musk over his plan to reinstate former US president Donald Trump’s account on Twitter. Clarifying his stance, Dorsey said that he agrees with Elon Musk that permanent bans are a failure.
“It was a business decision, it shouldn’t have been, and we should always revisit our decisions and evolve as necessary. I stated in that thread and still believe that permanent bans of individuals are directionally wrong,” Dorsey said.
Jack Dorsey was the CEO when Twitter permanently suspended Donald Trump’s account
He further added, “We made the decision based on the information we had and what we thought best. impossible situation. I’m saying a corporation should not have to make this decision in the first place, not for something as important as public conversation.”
Replying to questions about why it is wrong to ban someone on a virtual platform the same way it can be done in real life, Dorsey said, “Twitter isn’t a bar.”
(With inputs from Reuters)