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Twitter co-founder Jack Dorsey backed the sale to Elon Musk

Twitter co-founder Jack Dorsey gave a nod to billionaire Elon Musk’s vision for the networking platform he created.


Musk bought Twitter for $44 million, and according to Dorsey this is the “right path” for the company.

“Elon’s goal of creating a platform that is ‘maximally trustworthy and broadly inclusive’ is the right one,” Dorsey wrote on his Twitter account.


Dorsey also thanked Musk and Twitter CEO Parag Agrawal, “for getting the company out of an impossible situation.”

“This is the right path. I believe it with all my heart.”wrote Dorsey, who stepped down as Twitter CEO in November.


Dorsey endorsed Musk’s vision, saying that operating Twitter like a business “It has always been my only problem and my biggest regret” and that “Getting it back from Wall Street is the right first step.”

“In principle, I don’t think anyone should own or run Twitter,” wrote. “It wants to be a public good at the protocol level, not a company. However, to solve the problem of being a company, Elon is the singular solution that I trust. I trust in your mission to spread the light of consciousness.”

Musk, whose massive deal was accepted by Twitter on Monday, said he wanted to buy Twitter to restore the platform’s adherence to free speech principles.


“Freedom of expression is the foundation of a functioning democracy, and Twitter is the digital town square where vital issues for the future of humanity are debated,” Musk said in a statement after the announcement.

Tesla’s CEO will pay $54.20 per share for the company, which he has agreed to take private.

Dorsey, who did not accept a salary as head of Twitter, he owned 2.4 percent of the company, or about 18,042,428 shares, according to The Hollywood Reporter.

That sets you up for a huge cash payout from $978 million when the deal is completed.

Agrawal and CFO Ned Segal have “change of control” clauses in their contracts, according to Twitter’s latest proxy filing, according to The Hollywood Reporter.

According to Agrawal’s clause, he cites his report to the “board of directors of a publicly traded entity,” meaning that the privatization of Twitter would trigger the clause.

If both executives were fired, Agrawal would receive a $38.7 million package and Segal would receive a $25.5 million package, according to the outlet.

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