New Delhi: Jack Dorsey, co-founder of Twitter Inc, said that the only solution he trusts for the platform is Elon Musk, a report by Bloomberg said on Tuesday.
World’s richest man, Tesla CEO Musk reached a deal with Twitter board to buy the social media firm for about $44 billion.
Dorsey said Twitter has been “owned” by Wall Street; and taking the company private was the “correct” first step, according to Bloomberg data.
Dorsey, who took the company public in 2013, holds a 2.36 per cent stake in the social media platform.
In a thread, Dorsey wrote, “Twitter as a company has always been my sole issue and my biggest regret,” while adding, he said, “Solving for the problem of it being a company however, Elon is the singular solution I trust.”
On late Monday, billionaire Musk reaches an agreement with Twitter board for acquiring the company for $44 billion.
According to a report by Bloomberg, the deal, which was approved by the board, is expected to be completed by the end of 2022. In a statement, the company said that the investors will receive $54.20 each share they own.
Chairman of Twitter, Bret Taylor, in a statement said the board had “conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”