- Tesla and SpaceX CEO Elon Musk has expressed his support for the CEO of Twitter, Jack Dorsey, in the wake of attempts to remove him from office
- Elliot Management, owned by Paul Singer, is seeking his removal after they acquired an almost 5% stake in the company
- Singer is seeking Dorsey's removal because he is the CEO of both Twitter and Square
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The chief executive officer of Tesla and SpaceX, Pretoria-born Elon Musk, has thrown his weight behind the CEO of Twitter Inc, Jack Dorsey.
This comes in the wake of a reported attempt to oust Dorsey by a Twitter investor.
Briefly.co.za understands that Paul Singer's activist hedge fund, Elliot Management, is seeking Dorsey’s removal from office because he works as CEO for both Square and Twitter. US-based Square provides financial and mobile payment services to businesses.
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Twitter’s employees have however taken a stand and voiced their support for Dorsey with the hashtag #webackjack.
Taking to Twitter, Musk noted that he supports Jack because he has a good heart.
Elliot Management currently has almost a 5% stake in Twitter and is launching a campaign to get Dorsey removed from office.
He argues that Dorsey is not focused enough on Twitter and therefore needs to be removed from office.
With more than $1 billion invested in Twitter, Elliott has nominated four new board members.
He feels that Dorsey has been neglecting his responsibilities at Twitter because he spends more time being the CEO of Square, where 85% of his wealth lies.
Square is a financial and merchant services provider based in California that focuses on helping clients receive mobile payments.
In other Elon news, it was earlier reported that he revealed another talent no one expected he has - making music.
He released an electronic dance track titled Don't Doubt ur Vibe and it's apparently very popular.
Elon's song has reached SoundCloud's top 10 list after getting over 2.6 million listens and shared the news on social media, showing off with his successful side-hustle.
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