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Republican mega-donor buys stake in Twitter and seeks to oust Jack Dorsey report
theguardian ^ | 2/29/2020 | martin pengelly

Posted on 02/29/2020 5:51:11 PM PST by bitt

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”.

Paul Singer, the billionaire founder of Elliott Management, is a Republican mega-donor who opposed Donald Trump during the real-estate magnate’s run for the presidential nomination but has since come onside.

After a White House visit in February 2017, Trump said Singer “was very much involved with the anti-Trump or, as they say, ‘Never Trump’, and Paul just left, and he’s given us his total support and it’s all about unification”.

Trump famously communicates with the public largely through Twitter, at the expense of traditional media strategy.

Twitter made headlines in October when it announced a ban on political advertising. Its use and potential manipulation by politicians of all stripes, from Trump to Democratic candidate Mike Bloomberg, remains a source of fierce contention.

Dorsey, a co-founder of Twitter, is also chief executive of Square, an online payment company. In November, he announced a plan to live and work in Africa for part of each year.

(Excerpt) Read more at theguardian.com ...


TOPICS: Constitution/Conservatism; Extended News; Government; Politics/Elections
KEYWORDS: billionaires; dorsey; paulsinger; twitter
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1 posted on 02/29/2020 5:51:11 PM PST by bitt
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To: Whenifhow; null and void; aragorn; EnigmaticAnomaly; kalee; Kale; AZ .44 MAG; Baynative; bgill; ...

p


2 posted on 02/29/2020 5:51:24 PM PST by bitt (A government afraid of it's citizens - should be afraid.)
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To: bitt

About damn time...


3 posted on 02/29/2020 5:52:38 PM PST by abb
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To: bitt

I’ll wait until I hear it from some other sources before I’ll believe it.


4 posted on 02/29/2020 5:53:20 PM PST by Salman (Democrats -- The *other* religion of peace.)
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To: bitt

Nice. See how fast the free speech argument becomes a national crisis when libs are purged and shadow banned.


5 posted on 02/29/2020 5:54:20 PM PST by TigerClaws
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To: bitt

bye bye @jack


6 posted on 02/29/2020 5:54:28 PM PST by eartick (Stupidity is expecting the government that broke itself to go out and fix itself. Texan for TEXIT!)
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To: bitt

Turned around TDS guy.

This could be great news.

But why would twitter let him acquire a large stake?

You know, as much as I have traded stocks, and not that well over 30 years lol, I don’t really know how one goes about buying a large chunk of a corporation’s stock.

Just keep accumulating? Part of a deal?


7 posted on 02/29/2020 5:55:12 PM PST by dp0622 (Radicals, racists Don't but w finger at me I'm a small town white boy Just tryin' to makne ends meet)
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To: bitt

but has since come onside

That’s a weird phrase.

As in not offside.

Does it mean “on the same side”?

Was the writer conserving alphabet?


8 posted on 02/29/2020 5:55:20 PM PST by samtheman (FReepers all do want Bernie to get the dem nomination, right? (Just to be clear))
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To: bitt

Twitter is one of the few U.S. technology companies headed, but not controlled, by one of its founders. It has given shareholders equal voting rights, making Dorsey, who owns only about 2% of the company, vulnerable to a challenge from an activist investor such as Elliott.
https://www.reuters.com/article/us-twitter-elliott/elliott-targets-twitter-seeking-ceo-dorseys-removal-sources-idUSKBN20N04F


9 posted on 02/29/2020 5:58:03 PM PST by RummyChick
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To: dp0622

Perhaps somebody with a lot of Twitter stock took a real beat down in the last week and needed the cash!!! Perhaps he is adding this buy to stock he already has and NOW has enough to have some control!!


10 posted on 02/29/2020 5:59:18 PM PST by Trump Girl Kit Cat (Yosemite Sam raising hell)
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To: samtheman

It is not weird. It is a common turn of phrase. Perhaps one of those Brit/American differences.


11 posted on 02/29/2020 6:00:04 PM PST by RummyChick
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To: samtheman
but has since come onside — That’s a weird phrase.

The Guardian is Brit. An obsessively socialist twit-fest, yet when writing about things that aren't political, can be quite intelligent and entertaining. (Nothing like the Gray Lady of New York.)

12 posted on 02/29/2020 6:00:53 PM PST by SamuraiScot (am)
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To: dp0622

Equal voting Rights.

Dorsey only owns a small part of the company

That is how he will be ousted.


13 posted on 02/29/2020 6:01:17 PM PST by RummyChick
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To: RummyChick

But how do you get, let’s say, 25 percent of a company’s stock?

Is it through just buying and buying and buying during trading? Is that legal?

Or is it through some kind of deal outside of market hours?

Thanks.

I should have known you would know :)

You probably made a killing playing this drop last week :)


14 posted on 02/29/2020 6:05:58 PM PST by dp0622 (Radicals, racists Don't but w finger at me I'm a small town white boy Just tryin' to makne ends meet)
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To: bitt

Buy SQ


15 posted on 02/29/2020 6:08:12 PM PST by samadams2000 (Get your houses in order.)
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To: bitt

It would be great to see of my old friend back on twitter. I tried GAB and could not adapt. not user friendly.


16 posted on 02/29/2020 6:10:16 PM PST by Jet Jaguar
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To: abb

Paul Singer is not a conservative. This isn’t good news. Paul Singer is the reason why the GOP failed to do anything to stop gay marriage since the 1980s, because he’s a mega-donor to the party and he personally supported the homosexual agenda for decades.

Paul Singer is a Neocon establishment hack at best.


17 posted on 02/29/2020 6:16:09 PM PST by Shadow44
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To: Salman

Agree. The Guardian, please. I would get news from the dog next door before them.


18 posted on 02/29/2020 6:19:12 PM PST by gibsonguy
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To: dp0622

He is an activist investor. Think Carl Icahn

He owns a huge stake in Softbank and At&t

I don’t know how much he owns but he will seek to join forces with others to force change.

Sometimes it works
Sometimes it doesn’t.
Since Twitter has equal voting rights and Dorsey only owns 2% he may very well succeed


19 posted on 02/29/2020 6:20:20 PM PST by RummyChick
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To: bitt

Let us hear a HUGE HUZZAH for Republican Billionaires who are willing to put up the cash to defeat LIEberals!


20 posted on 02/29/2020 6:22:20 PM PST by Taxman (We will never be a truly FRee people so long as we have the income tax and the IRS!)
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