Elon Musk voiced his support for Twitter CEO Jack Dorsey, who is under attack from activist investor Elliott Management.
Musk is CEO of two companies — Tesla and SpaceX — similar to Dorsey, whose role as dual CEO is one of the reasons activist investors are seeking to replace him.Visit Business Insider's homepage for more storiesTwitter CEO Jack Dorsey won a high-profile ally on Monday, as Elon Musk voiced his support for Dorsey amid an escalating battle to oust him from the top job. , adding that Dorsey has a good heart, using the heart emoji.
Dorsey is under attack from billionaire Paul Singer's activist hedge fund Elliott Management, which has amassed a nearly 5% stake in Twitter and is, according to media reports. Elliott will make that case that Dorsey, who is also CEO at Square, is not focused enough on Twitter, according to Bloomberg, which first reported the news.
Musk is also the chief executive of two companies, wearing the CEO hat at electric car maker Tesla and space exploration company SpaceX. And Musk has a long history of picking fights with financial foes, particularly the short-sellers that have long targeted Tesla's stock.On Monday, Twitter employees rushed to defend their leader, firing off tweets with the hashtag #webackjack.
"I can't stand people that make it difficult for good people to do good," wrote one Twitter employee. "With everything going on in the world we deserve more good people."
Our family funds 2nd fund, this afternoon, started buying Twitter shares to support jack We aim to buy 4%, 1st fund will buy 1.5%. I'd call on sacca to back Twitter too.
Go go elonmusk, hurry up before these tweets get censored too ;)
Should read 'Wingnuts trying to turn Twitter into another Right Wing propaganda outlet '
Good move Elon Musk.
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Stocks making the biggest moves premarket: Twitter, Apple, GE, Verizon, SmileDirectClub & moreTwitter CEO Jack Dorsey is under pressure from activist Elliott Management. Apple gets an upgrade at Oppenheimer.
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