UPDATED 1:24 PM PT – Wednesday, May 25, 2022
Twitter co-founder Jack Dorsey is leaving the Twitter Board following an argument with Elon Musk amid his acquisition of the company. Dorsey was recently accused by his fellow board members of helping Musk advance his $44 billion acquisition offer.
Back in April, Twitter’s Board approved the sale of the company to the Tesla CEO. Dorsey seemed to agree with the choice as he voiced that he believed in Musk, tweeting “Elon’s goal of creating a platform that is maximally trusted and broadly inclusive is the right one.”
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 SpaceX CEO put his bid on hold amid a dispute over the number of fake accounts and bots on Twitter. Dorsey and Musk reportedly had a disagreement over Twitter algorithms, which Musk asserted are “manipulative and must change.” On Friday, Twitter adopted a “poison pill” to ward off Musk’s takeover attempt.
“The pill cuts off Musk’s ability to make a tender offer over the heads of the board,” said Boston College Law professor Brian Quinn. “If he wants to buy the company then all roads lead through the Twitter Board, he can’t go directly to the shareholders with his offer.”
This departure means all of Twitter’s founders have now cut ties with the company.