Elon Musk is vowing to support Twitter boss Jack Dorsey against the activist hedge fund trying to oust him
- Elon Musk voiced his support for Twitter CEO Jack Dorsey, who is under attack from activist investor Elliott Management.
- Musk is CEO of two companies - Tesla and SpaceX - similar to Dorsey, whose role as dual CEO is one of the reasons activist investors are seeking to replace him.
- Twitter employees have also been voicing their support for Dorsey, using the hashtag #webackjack.
- Visit Business Insider's homepage for more stories.
Twitter CEO Jack Dorsey won a high-profile ally on Monday, as Elon Musk voiced his support for Dorsey amid an escalating battle to oust him from the top job."Just want to say that I support @jack as Twitter CEO," Musk tweeted, adding that Dorsey has a good heart, using the heart emoji.Advertisement
Dorsey is under attack from billionaire Paul Singer's activist hedge fund Elliott Management, which has amassed a nearly 5% stake in Twitter and is launching a pressure campaign to replace Dorsey in the top job, according to media reports. Elliott will make that case that Dorsey, who is also CEO at Square, is not focused enough on Twitter, according to Bloomberg, which first reported the news.
Musk is also the chief executive of two companies, wearing the CEO hat at electric car maker Tesla and space exploration company SpaceX. And Musk has a long history of picking fights with financial foes, particularly the short-sellers that have long targeted Tesla's stock.
On Monday, Twitter employees rushed to defend their leader, firing off tweets with the hashtag #webackjack."I can't stand people that make it difficult for good people to do good," wrote one Twitter employee. "With everything going on in the world we deserve more good people." Earlier this year, Musk made a virtual appearance at a Twitter employee event, telling Dorsey and the audience how he would fix the social network, recommending action against the trolls and bots on the platform.Advertisement
Just want say that I support @Jack as Twitter CEO. He has a good ❤️.- Elon Musk (@elonmusk) March 3, 2020
- COVID-19: C'garh to hold e-Lok Adalat via video conferencing
- Facebook's software kit to blame for popular apps crashing
- Itolizumab approved for emergency use on COVID-19 patients
- COVID-19: 1,500 Indians to be repatriated from S Africa on Sunday
- Zomato turns 12 – from a weekend project to a $3 billion company, here’s the startup’s journey over the years