Jack Dorsey Will Stay on as Twitter CEO After Paul Singer-Led Venture Capital Firm Caves
Twitter CEO Jack Dorsey will remain in his role atop the Big Tech giant, a week after his status was being questioned following a shake-up in the corporate structure of the monolithic social media provider.
A deal has been struck with Elliott Management, a vulture capital firm run by Republican donor Paul Singer that has gained a certain level of control over Twitter, to create a $2 billion share buyback program and add a few new members to the board of directors for the corporate behemoth.
In addition, tech investment firm Silver Lake will be investing $1 billion into Twitter. Egon Durban, co-CEO of Silver Lake, and Jesse Cohn, a partner at Elliott, will be joining the board of directors. There will also be another unnamed individual added to the board in the upcoming days.
“Silver Lake’s investment in Twitter is a strong vote of confidence in our work and our path forward,” Dorsey said in a press release about the deal.
“They are one of the most respected voices in technology and finance and we are fortunate to have them as our new partner and as a member of our Board,” he added.
Many conservatives were thrilled at the news of Singer’s group becoming more influential within Twitter, believing that it would lead to conservative voices being treated fairly and having their free speech respected on the platform.
However, Big League Politics warned last week that it would not be the case, as Singer was a prominent “Never Trumper” who has funded the reviled GOP establishment for decades:
Conservatives may be cheering about this decision, but they should think twice.
Last December, Tucker Carlson attacked Singer for his business practices, which Breitbart News covered:
“[T]he model is ruthless economic efficiency: Buy a distressed company, outsource the jobs, liquidate the valuable assets, fire middle management, and once the smoke has cleared, dump what remains to the highest bidder, often in Asia,” Carlson detailed. “It has happened around the country. It has made a small number of people phenomenally rich. One of them is a New York-based hedge fund manager called Paul Singer, who, according to Forbes, has amassed a personal fortune of more than $3 billion.” …
Singer was originally a Trump opponent but is now hopping on the Trump bandwagon like many opportunistic conservatives.
Yet again, the oligarchs who paper over the Republican Party with their vast wealth have failed to do anything to protect freedom for conservatives. Singer will likely get even richer after sinking his teeth into Twitter, which is his underlying agenda.