Finance

Why I sold Twitter to Elon Musk – Jack Dorsey

Published

3 years ago

April 26, 2022

Twitter founder, Jack Dorsey has given the reason the microblogging app was sold to billionaire, Elon Musk..

Musk on Monday night reached an agreement to buy Twitter for approximately $44 billion.

The 50-year-old acquired the company at $54.20 a share, the same price named in his initial offer on April 14.

Giving reason for selling Twitter, Jack said Elon Musk is the only solution to achieving the purpose of Twitter being run for the public good.

According to him, he trusts Elon’s goal of creating a platform that is “maximally trusted and broadly inclusive”.

His tweets read, “I love Twitter. Twitter is the closest thing we have to global consciousness. The idea and service is all that matters to me, and I will do whatever it takes to protect both. Twitter as a company has always been my sole issue and my biggest regret. It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step.

“In principle, I don’t believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. Solving the problem of it being a company, however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.

“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 assured that Twitter will continue to serve the public conversation.