Jack Dorsey, co-founder and former chief executive of Twitter Inc (NYSE:TWTR), has publicly backed Elon Musk’s US$43bn takeover of the social media site.
Dorsey, who co-founded the site in 2006 said Musk is the “singular solution I trust” and that privatising Twitter and “taking it back from Wall Street is the correct first step.”
In a series of tweets made earlier today, the 45-year-old said he believes no one should own or run Twitter, and that he wants it to be “a public good at a protocol level, not a company.”
Elon’s goal of creating a platform that is “maximally trusted and broadly inclusive” is the right one. This is also @paraga’s goal, and why I chose him. Thank you both for getting the company out of an impossible situation. This is the right path...I believe it with all my heart.
— jack⚡️ (@jack) April 26, 2022
The 45-year-old, who is now chief executive of Block, the digital payments company, is set to bank US$978mln once the deal is finalised later this year for his 2.4% stake.
Musk may need the help of the former chief executive, given the deal has raised concerns over his true intentions among the public.
Commentators, members of staff at Twitter and public figures and celebrities have also been vocal in with their issues, with Dorsey in the minority in being vocal in their support for the takeover.
Some analysts argued the buyout is simply a vanity project and an attempt from the Tesla chief executive to recreate Twitter in his own image, without providing any real concrete plans on how to improve the platform.
Staff have also raised concerns over whether the South African’s ideas for the micro-blogging site align with its values for 'responsible and ethical artificial intelligence.
Musk’s purchase has even been questioned by Jeff Bezos, the Amazon founder and man second on the list to Musk of the richest people in the world.
READ :Elon Musk will soon own Twitter - but what are we likely to see next?
Amazon’s former chief executive suggested the Chinese government will leverage the buy-out to suppress criticism of the country on the platform, given Tesla’s popularity in the country.
Human rights groups Amnesty International and Human Rights Watch also raised concerns that while pushing for freedom of speech, Musk faces the risk of allowing racial abuse, incitement of violence and other forms of trouble content to seep through unmoderated.