Twitter Founder Jack Dorsey Poised for $978 Million Payday if Elon Musk Closes Deal

Elon Musk said Friday that his planned $44 billion purchase of Twitter is «temporarily on hold» pending details on spam and fake accounts on the social media platform, another twist amid signs of internal turmoil over the proposed acquisition.In a tweet, the Tesla billionaire linked to a Reuters story from May 2 citing a financial filing from Twitter that estimated false or spam accounts made up fewer than 5% of the company's «monetizable daily active users» in the first quarter.«Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,» Musk said, indicating he's skeptical that the number of inauthentic accounts is that low.A short time later on Friday morning, Musk tweeted that he remains committed to the purchase. Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of usershttps://t.co/Y2t0QMuuynIt wasn't clear whether the issue could scuttle the deal. Shares of both Twitter and Tesla swung sharply in opposite directions, with Twitter's stock tumbling 17% to $37.20 before trading opened in the U.S, and Tesla, which Musk had proposed using to help fund the Twitter deal, jumping 5%.

Naman Ramachandran The Twitter deal is temporarily on hold, billionaire Elon Musk posted on Friday.“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk posted on Twitter.Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of usershttps://t.co/Y2t0QMuuyn— Elon Musk (@elonmusk) May 13, 2022In the tweet, Musk provided a link to a May 2 Reuters article quoting Twitter’s filing on Monday. “Twitter Inc estimated in a filing on Monday that false or spam accounts represented fewer than 5% of its monetizable daily active users during the first quarter,” the Reuters piece said.Musk has been vocal about cleaning the platform of spam bots.

Twitter CEO Parag Agrawal has cut loose two top executives and announced a hiring freeze ahead of the company’s acquisition by Elon Musk, whose share purchases are reportedly being investigated by the SEC.

Elon Musk said Twitter would reverse its ban of former President Donald Trump if his purchase of the social media company goes through, signaling just how permissive the platform could become toward free speech under his ownership.

Elon Musk confirmed what has been speculated since he reached a deal to buy out Twitter: He’d allow Donald Trump to return to the platform.

Elon Musk confirmed what has been speculated since he reached a deal to buy out Twitter: He’d allow Donald Trump to return to the platform.

As their bromance heats up, Jack Dorsey has weighed in again to support Elon Musk’s pending acquisition of Twitter following news the Tesla CEO wants him to retain a stake and stick around.

CNBC, which cited unnamed sources.The Tesla CEO will take over as CEO of the social company for several months after the deal closes to take Twitter private for $44 billion. This comes as the San Francisco giant now faces an uncertain future under Musk’s potential ownership.

Elon Musk has unveiled a group of investors that together will provide about $7.14 billion in financing commitments for his pending $44-billion acquisition of Twitter, and said he’s talking to Twitter founder Jack Dorsey about sticking around as part owner.

leaned into censoring certain users and content in the months leading up to his resignation.How things have already changed.Dorsey is among a new group of investors being floated by Elon Musk, the free-speech champion massing billions to complete his purchase Twitter, to participate as an investor in his private version of the company, according to a Securities and Exchange Commission filing from Thursday.The more than $7 billion in new money includes 19 investors, some of whom are current Twitter shareholders – including Larry Ellison, Sequoia Capital, Qatar Holding, and Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud of Saudi Arabia. Equity commitments range from $1 billion (Ellison) on down to $5 million (Honeycomb Asset Management).It wasn’t immediately clear how the $7 billion would fit into the standing $44 billion offer that Musk made for the company, which was accepted late last month.

Todd Spangler NY Digital EditorElon Musk is getting a little help from billionaire friends for his $44 billion Twitter takeover.According to an SEC filing Thursday, Musk has secured $7.14 billion in new financing commitments for the Twitter bid, including $1 billion from Larry Ellison. Ellison, co-founder and CTO of software giant Oracle, also sits on the board of Tesla, which Musk heads as CEO.In addition, Prince al-Waleed bin Talal of Saudi Arabia committed to retain the equity he owns in Twitter — his 35 million shares are worth $1.9 billion at Musk’s buyout offer — instead of receiving a cash payout, per the filing.Musk “will continue to have… discussions with certain existing holders” of Twitter stock, including ex-CEO Jack Dorsey, to contribute their shares toward his bid, according to the filing.

Elona” after a Putin-allied war-lord called him that – is now touting his “Shadow Crew,” a mocking response to a Wall Street Journal story suggesting a cabal of influential friends, described by the paper as a “secret crew of billionaires and misfits,” were egging him on to buy Twitter.“My Shadow Crew is sickkk!” he tweeted, adding: “Also, who are they again?”My Shadrow Crew is sickkk!Also, who are they again?The tweet was a reply to Silicon Valley investment titan Marc Andreesen, who posted the Journal story and said Musk has “a shadow crew of misfits egging you on.”So who are these misfits, supposedly? The Journal didn’t give a very long list, naming only former Twitter CEO Jack Dorsey and Seth Dillon, CEO of the conservative-leaning satire site Babylon Bee. Three people might be enough for a “crew,” but might be a bit light for, say, branded merch.Sell Shadow Crew merch to buy Twitter?There may be others, unnamed “crew” – the Journal reported that he’s “dismayed” that Donald Trump isn’t on the platform, citing “people who have spoken to him” – but no one else was named.Twitter’s board has accepted Musk’s offer to take the company private for $44 million, which still has some financial and regulatory hurdles to clear before being finalized.

Tesla head’s divisive $44 billion takeover of Twitter Monday. Rogan heaped praise on the billionaire during a Tuesday episode of the “Joe Rogan Experience” with guest Jessica Kirston.“Oh s–t, oh s–t, Elon Musk just bought Twitter,” gushed the former “Fear Factor” host, who has received fierce backlash over his alleged anti-vaxxer comments, among other controversies.

Radiohead song.The Tesla founder and entrepreneur successfully acquired the social media platform yesterday (April 25) for approximately $44billion (£34.5b), per The Independent.His offer was initially turned down by Twitter, which put a “poison pill” measure in place to stop a takeover attempt by Musk. However, the two parties later entered talks before the deal entered its final stages of negotiations.Dorsey shared a statement about the purchase with a link to Radiohead’s ‘Kid A’ track, ‘Everything In Its Right Place.’https://t.co/jeNtFyRrpR— jack⚡️ (@jack) April 26, 2022He then added: “I love Twitter. Twitter is the closest thing we have to a global consciousness.”I love Twitter.

Though news of Elon Musk buying Twitter just broke, the jokes are already stale.

Pat Saperstein Deputy EditorTwitter co-founder and former CEO Jack Dorsey commented on Elon Musk’s acquisition of the social media platform on Monday night, kicking off his thread with Radiohead’s song “Everything In Its Right Place.”“I love Twitter. Twitter is the closest thing we have to a global consciousness,” he wrote.After stepping down from Twitter in November 2021, Dorsey continued to sit on the company’s board of directors. The board approved Musk’s $44 billion acquisition Monday morning.I love Twitter.

Elon Musk in a deal that values the company at $44 billion, the board announced Monday afternoon.«The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter's stockholders,» Bret Taylor, the company's independent board chair, said in a statement.Musk, the CEO of Tesla and SpaceX, reiterated his plans to remake Twitter as a forum dedicated to promoting free speech.«Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,» he said in a statement.Musk also said he plans on «making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans» on the platform.It's the largest deal to take a company private in at least two decades, reported.The board voted unanimously in favor of the acquisition. The deal is expected to close this year, subject to the approval of Twitter's shareholders.The official acquisition caps off a drama worth of a soap opera between the famously mercurial Musk and one of the world's most prominent social networks.The billionaire disclosed earlier this month that he had become Twitter's largest shareholder, and soon after proposed to buy the company outright and take it private.

Taking over. Elon Musk reached a deal to buy Twitter for about $44 billion on Monday, April 25.

Todd Spangler NY Digital EditorElon Musk is poised to become the new owner of Twitter, after a fast flurry of negotiations left the company’s board with no choice but to accept the multibillionaire’s $44 billion takeover proposal.Under the terms of the deal, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing of the proposed transaction. The purchase price represents a 38% premium to Twitter’s closing stock price on April 1, 2022, which was the last trading day before Musk, who is CEO of Tesla and SpaceX, disclosed his approximately 9% stake in Twitter.Upon completion of the transaction, Twitter will become a privately held company.Musk said in a statemnet, “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” said Mr.