Why Jack Dorsey Trusted Elon Musk to Buy Twitter and a look Back at Their Friendship
- Jack Dorsey may have allowed Elon Musk buy Twitter beyond the trust he has in the SpaceX CEO
- Their friendship dates back when Elon Musk saved Dorsey from being booted out as Twitter CEO in 2020
- As the deal of Elon Musk's purchase of Twitter came to a climax, Dorsey will pocket about $977 million from his 2.25 per cent shares
Jack Dorsey’s favourable disposition towards Elon Musk must have stemmed from a bond or conviction they both shared about Twitter.
The duo have something in common about the social media company. So why did Jack Dorsey trust Musk with his personal invention?
Source: Getty Images
On Monday, April 25, 2022, after what seemed unrealistic for many weeks, the richest man in the world finally bought Twitter at $54.20 per share, valued at $44 billion.
On that same day, Jack Dorsey, Twitter’s founder and ex-CEO tweeted what many say is approval and five star rating of Musk’s latest purchase. He said the billionaire is the only person he trusts to run Twitter, saying he relies on him to transform the platform.
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Dorsey's firm belief in Musk to run Twitter profitably
According to Dorsey, he does not believe anyone should own or run Twitter, his tweet on Monday night, the day Musk bought the social media site, said.
He said Twitter must be for the public good, adding that he trusts Musk to carry that mission and extend its consciousness.
They both have the same vision of how the microblogging site should operate. Dorsey tweeted the Tesla CEO’s goal of making a platform that is trusted and inclusive, saying that the current CEO, Parag Agrawal believes in the vision also.
The sentiment is reflective of Musk’s proposal earlier in the month when he said the social media site needs to transform into a private company.
Twitter rocks is Elon Musk's mantra
Jack Dorsey and Musk’s friendship goes back further than the night Musk acquired the company.
According to a CNBC report, at the 2016 Dmexco digital marketing event in Germany, Dorsey said Musk was really a good example of how to use Twitter.
CNN reports that In February 2019, Jack Dorsey told a New York Times reporter that he respected how Musk was intentional in solving and sharing his thinking publicly on Twitter.
Musk thanked Dorsey, adding that Twitter rocks.
At another Twitter event a year later, Dorsey asked Musk about the platform and how he would make it better. The world’s richest man said he would find a way to make it better.
Saved by Musk's tweet
In March 2020, When Dorsey was about to be ousted as CEO by a hedge fund activist, Musk reciprocated his loyalty to Dorsey and tweeted that he has a good heart.
Dorsey stands to gain more from Twitter sale than Musk’s buying of Twitter. Dorsey will walk away from with $975 million from his 2.25 stake in Twitter which is about 18 million shares, according to analysts.
Source: Legit.ng
