Billionaire Republican buys major Twitter stake, plans to oust CEO Jack Dorsey

by Jordyn Pair · Mar 2nd, 2020 10:39 am
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Last Updated Mar 2nd, 2020 at 10:59 am

A billionaire Republican megadonor has purchased a major stake in Twitter and has plans to oust CEO Jack Dorsey, according to people familiar with the matter.

Paul Singer's Elliott Management Corp. has nominated four directors to Twitter's board. His attempted takeover of Twitter raises the possibility of a friendlier platform for conservatives, who have long accused Twitter of a left-wing political bias.

Singer is considered a megadonor for the GOP, donating $24 million to Republican right-leaning groups during the 2016 election, despite his opposition to President Trump's campaign that same year. He has since become an ardent Trump supporter.

? Dorsey does not have voting control over Twitter because the company has just one class of stock.


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