{"id":1719906,"date":"2022-11-01T11:54:01","date_gmt":"2022-11-01T15:54:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1719906"},"modified":"2022-11-01T12:03:49","modified_gmt":"2022-11-01T16:03:49","slug":"jack-dorsey-retains-stake-in-twitter-saving-elon-musk-1-billion","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jack-dorsey-retains-stake-in-twitter-saving-elon-musk-1-billion\/","title":{"rendered":"Jack Dorsey Retains Stake in Twitter, Saving Elon Musk $1 Billion"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjack-dorsey-retains-stake-in-twitter-saving-elon-musk-1-billion%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1719906&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><a href=\"https:\/\/www.theepochtimes.com\/t-twitter\">Twitter<\/a> co-founder\u00a0and former CEO <a href=\"https:\/\/www.theepochtimes.com\/t-jack-dorsey\">Jack Dorsey<\/a> has retained his 2.4 percent stake in the social media platform after it was acquired by Tesla CEO <a href=\"https:\/\/www.theepochtimes.com\/t-elon-musk\">Elon Musk<\/a>,\u00a0according to a\u00a0<a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1418091\/000119312522274034\/d393652dsc13d.htm\" target=\"_blank\" rel=\"noopener\">new filing<\/a>\u00a0with the Securities and Exchange Commission.<\/p>\n<p>According to the filing,\u00a0Dorsey\u00a0retained\u00a0more than 18 million shares in Twitter, valued at about $1 billion when the company became private.<\/p>\n<p>The decision by Dorsey, which was initially agreed upon back in April according to the filing, means that Musk has saved himself a substantial payout to the former Twitter CEO.<\/p>\n<p>It also means that Dorsey will remain one\u00a0of Twitter\u2019s largest shareholders, second only to Musk himself and\u00a0Saudi Arabia\u2019s Prince Alwaleed Bin Talal Al Saud, who rolled over his\u00a0<a href=\"https:\/\/twitter.com\/Alwaleed_Talal\/status\/1585975226567110656\">34.948 million<\/a> shares of Twitter, valued at roughly\u00a0$1.9 billion, in October.<\/p>\n<p>Dorsey, who stepped down from Twitter\u2019s Board of Directors in May this year,\u00a0has been outspoken in his support for Musk taking over Twitter, <a href=\"https:\/\/twitter.com\/jack\/status\/1518772756069773313\">writing<\/a>\u00a0in April that\u00a0Musk was the \u201csingular solution\u201d he trusts.<\/p>\n<h2>\u2018Common Digital Town Square\u2019<\/h2>\n<p>\u201cElon\u2019s goal of creating a platform that is \u2018maximally trusted and broadly inclusive\u2019 is the right one,\u201d Dorsey said at the time.\u00a0\u201cThis is also\u00a0@paraga\u2019s\u00a0[former Twitter CEO Parag Agrawal\u2019s]\u00a0goal, and why I chose him. Thank you both for getting the company out of an impossible situation. This is the right path. \u2026 I believe it with all my heart.\u201d<\/p>\n<p>\u201cI\u2019m so happy Twitter will continue to serve the public conversation. Around the world, and into the stars!\u201d Dorsey added.<\/p>\n<p>Musk, who officially\u00a0acquired Twitter on Oct. 27, has repeatedly stated that the platform must be a place where individuals can debate a wide range of topics without fearing censorship of\u00a0minority and politically conservative viewpoints; something that Twitter has been accused of repeatedly in the past.<\/p>\n<p>In a Twitter\u00a0<a href=\"https:\/\/twitter.com\/elonmusk\/status\/1585619322239561728\/photo\/1\" target=\"_blank\" rel=\"noopener\">post<\/a>\u00a0addressed to advertisers last week, Musk said of the social media platform that it is \u201cimportant to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence.\u201d<\/p>\n<p>Explaining his motivations behind buying Twitter, Musk continued: \u201cThere is currently great danger that social media will splinter into far right-wing and far left-wing echo chambers that generate more hate and divide our society. That is why I bought Twitter. I didn\u2019t do it because it would be easy. I didn\u2019t do it to make more money. I did it to try to help humanity, whom I love.\u201d<\/p>\n<p>However, the billionaire businessman stressed that the site \u201cobviously cannot become a free-for-all hellscape, where anything can be said with no consequences.\u201d<\/p>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n\t\t\t\t\t<a href=\"https:\/\/www.theepochtimes.com\/author-katabella-roberts\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/ttl7dayERL_WEB_KatabellaRoberts.jpg\" alt=\"Katabella Roberts\" \/><\/a><\/p>\n<p>Follow<\/p>\n<\/div>\n<p>Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.\n<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Twitter co-founder\u00a0and former CEO Jack Dorsey has retained his 2.4 percent stake in the social media platform after it was acquired by Tesla CEO Elon Musk,\u00a0according to a\u00a0new filing\u00a0with the<\/p>\n","protected":false},"author":1,"featured_media":1697968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1719906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1719906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1719906"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1719906\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1697968"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1719906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1719906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1719906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}