According to Refinitiv, Dorsey, who presently heads payments firm Block Inc, holds a 2.4 percent ownership in Twitter.
Since the board of directors of Twitter accepted Musk’s $44 billion takeover offer on April 25, there has been little clarification on the company’s future leadership until the deal is completed.
According to Reuters, Musk has lined up a new chief executive, and there are suggestions that the Tesla Inc CEO may temporarily take over the top role.
Dorsey has had a turbulent tenure as CEO of the social media business. He was removed as Twitter CEO in 2008, two years after the service’s introduction, but reclaimed the position in 2015 before handing it over to chief technology officer Parag Agarwal late last year.
Meanwhile, according to a recent regulatory filing, Musk was in talks with Dorsey about contributing his shares to the potential acquisition.
Jack Patrick Dorsey is an American Internet entrepreneur, programmer, and philanthropist who co-founded and served as CEO of Twitter. He is also the founder and CEO of Block, Inc., a financial payments firm.
Evan Williams, Biz Stone, and Noah Glass co-founded Obvious Corporation, which spun off Twitter, Inc., with Dorsey as CEO (CEO). Dorsey led the business through two rounds of venture capital fundraising as CEO. He was reportedly fired for leaving work early to pursue other interests such as yoga and fashion design.
As the site grew in popularity, Dorsey prioritized improving uptime over generating cash, which Twitter was not planned to generate in 2008. Dorsey identified the business use of Twitter and its API as two factors that could result in paid services. His three guiding ideals are simplicity, limitation, and workmanship, which he thinks the company shares.
On October 16, 2008, Williams was named CEO of Twitter, and Dorsey was named chairman of the board. During his tenure as chairman, Dorsey served on many State Department delegations, including one to Iraq led by Jared Cohen in April 2009. Twitter was slated to perform site maintenance in November, when Iranians marched to the streets in the Green Revolution, which would mean temporarily shutting down Twitter’s servers.
Dorsey responded to Cohen’s plea to postpone the maintenance so that it would not disrupt the Iranian revolution, as Iranians were using Twitter to communicate and coordinate. The move aroused controversy because President Obama had previously stated that there would be no involvement in Iran.
