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 ...
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About damn time...
I’ll wait until I hear it from some other sources before I’ll believe it.
Nice. See how fast the free speech argument becomes a national crisis when libs are purged and shadow banned.
bye bye @jack
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?
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?
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
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!!
It is not weird. It is a common turn of phrase. Perhaps one of those Brit/American differences.
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.)
Equal voting Rights.
Dorsey only owns a small part of the company
That is how he will be ousted.
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 :)
Buy SQ
It would be great to see of my old friend back on twitter. I tried GAB and could not adapt. not user friendly.
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.
Agree. The Guardian, please. I would get news from the dog next door before them.
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
Let us hear a HUGE HUZZAH for Republican Billionaires who are willing to put up the cash to defeat LIEberals!
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