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With an activist shareholder trying to replace the Twitter CEO Jack Dorsey, a high-profile ally Elon Musk has come out in his support as the tension to oust him from the top job gains momentum.
“Just want to say that I support @jack as Twitter CEO,” Musk tweeted, adding that Dorsey has a good heart, using the heart emoji.
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Just want say that I support @Jack as Twitter CEO. He has a good ❤️.
— Elon Musk (@elonmusk) March 3, 2020
Dorsey is under attack from billionaire Paul Singer’s activist hedge fund Elliott Management, which has nearly 5 per cent stakes in Twitter and has launched a campaign to replace him as head of the social media company. Elliot will make his case that Dorsey’s attention is split between running both Twitter and financial services and mobile payment company Square along with his plan to move to Africa for six months this year.
Dorsey and Musk shares the common joy of wearing the CEO hats for two companies. Like Dorsey, Musk is the CEO electric car maker Tesla and the space exploration company Space X.
Similarly, Twitter employees also took to the company’s platform to extend their support to the top executive using the hashtag #webackjack.
Twitter declined to comment and Elliott Management didn’t immediately respond.
Last year, Dorsey announced that his $32.7 billion worth company Square would hire three to four developers and a designer to work on the open-source Bitcoin ecosystem.
On the other hand, Twitter is also considering a feature that would allow users to tip one another in Bitcoins.
It is not yet clear whether the Twitter tipping feature would integrate with Square.
(With input from agencies)
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