Twitter founder Jack Dorsey to remain invested in the company under Elon Musk

Key Facts

• New York CNN Business — Twitter co-founder and former CEO Jack Dorsey stepped down from the company’s board earlier this year, but he’s staying involved with the social platform following its takeover by Elon Musk.
• Dorsey rolled over his more than 18 million shares in Twitter (a roughly 2.4% stake) into the new Musk-owned company as an equity investor, rather than receiving a cash payout, according to a Thursday securities filing.
• After the Telsa CEO initially agreed to buy Twitter in April, Dorsey tweeted that he doesn’t “believe anyone should own or run Twitter,” explaining that he believes it should be a public good.
• In text messages with Musk in March, after the world’s richest man had built up a large stake in Twitter but before announcing it publicly, Dorsey said, “a new platform is needed.

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