Elon Musk, Jack Dorsey, Twitter

Twitter CEO Jack Dorsey has a prominent ally as he faces a possible fight to keep his job: Elon Musk. The Tesla chief tweeted his support for the social network’s co-founder amid reports that activist investor Paul Singer wants to oust Dorsey from the helm.

“Just want say that I support @Jack as Twitter CEO. He has a good [heart],” Musk wrote to his more than 31 million Twitter followers Monday evening, using a heart emoji.

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Musk, 48, seemed to offer one caveat he agreed when a follower suggested that Twitter should do more to tackle bot accounts and refine its verification system. “This is vital,” Musk wrote.

Musk’s endorsement followed news over the weekend that Singer’s Elliott Management has nominated four directors to Twitter’s board and wants to kick the 43-year-old Dorsey out of the CEO’s job.

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The investment firm, which has taken about a $1 billion stake in Twitter, is making the push amid concerns about Dorsey’s plans to spend as much as six months in Africa as well as his second role as CEO of the payments company Square, according to the Wall Street Journal. Twitter’s stock has also stagnated since Dorsey returned to the CEO’s seat in 2015 while Facebook’s share price has more than doubled in that time, the paper reported.

The reports of Elliott’s intervention sent Twitter shares soaring nearly 8 percent Monday but also spurred some of the company’s employees to rally around Dorsey. Several Twitter staffers posted gushing tweets about their boss with the hashtag “#WeBackJack.”

“I’ve worked for a lot of CEOs in the last 13 years none of them have the empathy or the self-awareness that Jack has,” Stewart Cornelius, a partnership solutions manager at Twitter, wrote Monday evening.

New York Post

Vanguard News


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