Former Twitter CEO Jack Dorsey has dismissed claims that he would lead the social media platform in the future following its acquisition by Elon Musk last month.
Dorsey responded to a someone on Twitter who predicted that Musk would “eventually ask” Dorsey to once again be the company’s CEO.
“Nah I’ll never be CEO again,” Dorsey responded.
Dorsey said that ideally “no one” should be the company’s CEO and, when asked if he would like to run the company again, he responded, “Nah. It’s time to roll the dice again.”
The tweets from Dorsey come after Twitter’s board of directors unanimously approved an acquisition by Musk last month in a $44 billion sale valued at $54.20 per share.
Dorsey said in a statement late last month that his “biggest failing” while serving as the company’s CEO was the “quickness part” when it came to “how the service works and acts, and how quickly it learns and improves.”
Dorsey’s tweets came roughly at the same time Wednesday that news broke regarding the Securities and Exchange Commission launching an investigation of Musk’s late disclosure filing of “a public form that investors must file when they buy more than 5% of a company’s shares,” The Wall Street Journal reported. “The disclosure functions as an early sign to shareholders and companies that a significant investor could seek to control or influence a company.”
The report said that Musk’s April 4 disclosure filing was at least 10 days late, a move that is believed to have saved him more than $140 million because share prices could have been higher if the public knew about his ownership of 5% of the company.
“The case is easy. It’s straightforward,” Daniel Taylor, a University of Pennsylvania accounting professor, said. “But whether they’re going to pick that battle with Elon is another question.”
The report noted that a lawsuit against Musk from the SEC would likely not stop him from taking over Twitter since the company’s board of director’s unanimously approved the acquisition by Musk and the SEC may lack the power to do so. Musk’s purchase of Twitter is also reportedly being reviewed by the Federal Trade Commission (FTC).
Musk also made news this week when he said that he will reverse Twitter’s permanent ban on former President Donald Trump if and when the sale is finalized.
“I think that was a mistake because it alienated a large part of the county, and did not ultimately result in Donald Trump not having a voice,” Musk said, adding that the decision was “morally bad.”
“That doesn’t mean that someone gets to say whatever they want to say,” Musk said. “If they say something that is illegal or destructive to the world, then there should be perhaps a timeout, temporary suspension or that particular tweet should be made invisible or have very little traction.”
“I would reverse the permanent ban,” Musk added.
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