Trump's 'People' Just Bought Huge Stake in Twitter: 'Seeks to Oust' CEO to Make More Like Facebook

[CousinIT]

https://www.theguardian.com/technology/2020/feb/29/paul-singer-elliott-management-twitter-jack-dorsey

A major Republican donor has purchased a stake in Twitter and is reportedly seeking to oust its chief executive, Jack Dorsey.

Bloomberg News first reported that Elliott Management has taken a “sizable stake” and “and plans to push for changes at the social media company, including replacing Dorsey”.

. . .

It was reported that those moves were motivations for Singer’s desire to push Dorsey out. Other stakeholders have voiced concern about Dorsey’s leadership and Twitter has seen its share price struggle, although it recently reported quarterly revenue above $1bn for the first time.

News of the Elliott stake saw Twitter’s share price rise on Friday, during general market slides in the midst of the coronavirus outbreak.

Elliott Management is an activist investor, which means it regularly pushes for change in companies in which it buys shares.

[samnsara]

1. bezos should just buy it....with his pocket change.....

[Fullduplexxx]

2. Somebody doesn't like their stand on political ads

[CousinIT]

3. Singer and his cretinous org have already nominated 4 directors to Twitter's board.

It's a Fox link so I won't share.

I'm sure Jack Dorsey is aware of this. Not sure if he intends to fight it in any way.