Elon Musk has finally taken over Twitter in a $44 billion cash deal, after an extensive pursuit to purchase the platform. Musk had earlier bought a 9.2 percent stake in Twitter for $3 billion, but later increased his stake after not being able to join the company’s board. After Musk’s acquision, Twitter founder Jack Dorsey has expressed support towards Musk’s takeover. In a Twitter thread, Dorsey has said that this is the “correct first step" todays taking Twitter back from Wall Street.
In a thread on Twitter, Dorsey said that Twitter is the closest thing we have to a global consciousness. He said that the idea and service is all that matters, and he “will do whatever it takes to protect both." Dorsey, who has been a vocal critic of the Twitter board, said that he has always had issues with Twitter as a company and called it his “biggest regret." “It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step," Dorsey said.
The idea and service is all that matters to me, and I will do whatever it takes to protect both. Twitter as a company has always been my sole issue and my biggest regret. It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step.— jack⚡️ (@jack) April 26, 2022
Dorsey said that in principle, he does not believe that anyone should own or run Twitter. It is supposed to be a public good at a protocol level, not a company. He also said that Musk is the only solution he trusts to solving the problem of Twitter being a company. “I trust his mission to extend the light of consciousness."
Dorsey also extended support about Musk’s goal of creating a platform that is “maximally trusted and broadly inclusive." He said that this goal is the right one. He also said that Twitter CEO Parag Agarwal also has this goal for the company and that is the reason Dorsey chose him as the successor, further thanking the CEO and Musk for getting the company out of an “impossible situation." “Thank you both for getting the company out of an impossible situation. This is the right path…I believe it with all my heart." “I’m so happy Twitter will continue to serve the public conversation. Around the world, and into the stars!," Dorsey said.
WATCH VIDEO: Elon Musk Buys Twitter: Here Are 4 Big Changes You Can Expect
Twitter last night confirmed its the acquisition by sharing that an entity owned by Elon Musk has offered $54.20 per share in cash to acquire the micro-blogging platform. Musk has bought Twitter for around $44 billion. With this, Twitter will now be a privately held company.
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