Jack Dorsey will remain CEO of Twitter despite efforts of investors. Jack Dorsey agreed with Elliott Management, which called for its withdrawal for non-compliance with political balance. CEO Twitter refused everything and decided to persevere.
Personalities like Elon Musk and Vitalik Buterin was on his side. Twitter has long been a source of much information for investors in a rapidly changing asset such as Bitcoin.
Elliott Management: Dorsey is attacking the Conservatives
But..the activist fund will appoint its own man on the board of directors. Together with a third independent person they are to create a triumvirate that strikes a balance between Dorsey’s idealism and money from investors.
The new council, together with the new committee, will decide what the next social network development plan will look like. Recommendations will also be adopted. The new council is to change several bodies of society to make things happen.
The Silver Lake Fund will also invest $ 1 billion under these conditions. Twitter plans to use this money to buy back of shares. They are supposed to cost two billion US dollars.
Story in the background
The investment fund, under Paul Singer, is often about high American politics. It supports a conservative party that often faces criticism on social networks.