What HappenedDorsey said he was happy that Musk was joining the Twitter board. “He cares deeply about our world and Twitter’s role in it.”
Dorsey said that Twitter CEO Parag Agrawal and Musk both “lead with their hearts, and they will be an incredible team.”
Musk responded to Dorsey saying “Thanks Jack!”
Why It MattersOn Monday, a filing revealed that Musk had acquired a 9.2 percent stake in Twitter, having purchased 73,486,938 shares worth $2.89 billion.
Dorsey resigned as Twitter CEO in November 2021 and the then chief technology officer, Agrawal, succeeded him.
Musk had expressed support for Dorsey’s continuation as CEO in March 2020 after the activist investor Elliott Management Corporation took a stake in Twitter and sought his ouster.
“Just want [to] say that I support [Dorsey] as Twitter CEO. He has a good [heart]," said Musk at the time.
Dorsey is currently the CEO of Block Inc., known for its CashApp—which also supports trade in cryptocurrencies like Bitcoin. Musk is known to be a Dogecoin aficionado.