An activist investor known as a major Republican political supporter wants to wrest control of Twitter from co-founder and CEO Jack Dorsey, US media reported Friday.
Elliott Management, founded by billionaire Paul Singer, has acquired a stake in the social media firm and wants to remove Dorsey, CNBC said, citing an unnamed source.
The firm pushed for the change stating that Dorsey’s attention is divided between running Twitter and his financial transactions startup Square, and that Dorsey intends to live part of each year in Africa.
Twitter early this month reported that it added millions of new users and boosted ad revenue in the fourth quarter, sparking optimism over its growth prospects.
Dorsey said during an earnings call that the results capped “a great year for Twitter” and that Twitter has been able to boost users by making the service “more instantly relevant.”
“This is an incredibly strong foundation to build upon,” he told analysts.
The latest report suggested Twitter is making headway as it seeks to keep pace with bigger social networks like Facebook and Instagram while it works to filter out abuse and manipulation.
Twitter will have growth opportunities this year from the 2020 US elections and Olympic Games.
The platform has been seeking to expand its user base beyond celebrities, journalists and politicians.
Dorsey has stressed that a priority for Twitter is to “increase healthy public conversation” by rooting out inappropriate content and misinformation.
Despite his plans to spend part of the year living in Africa, Dorsey said he won’t be hampered by his travel.
“We do need to figure out how to build a company that is distributed, that is not burdened by time zones but advantaged by them,” he said.
USNS Comfort has 1,000 hospital beds to deal with New York’s coronavirus outbreak — but only 3 patients: report
Presdient Donald Trump announced to much fanfare that he was deploying two U.S. Navy hospital ships to respond to the COVID-19 pandemic. But the two ships are only serving 18 patients in total.
"Such were the expectations for the Navy hospital ship U.S.N.S. Comfort that when it chugged into New York Harbor this week, throngs of people, momentarily forgetting the strictures of social distancing, crammed together along Manhattan’s west side to catch a glimpse," the New York Times reported Thursday.
"On Thursday, though, the huge white vessel, which officials had promised would bring succor to a city on the brink, sat mostly empty, infuriating local hospital executives," the newspaper explained. "The ship’s 1,000 beds are largely unused, its 1,200-member crew mostly idle."
Jared Kushner slammed for buzzwording his way through coronavirus press conference
At Thursday's coronavirus task force briefing, President Donald Trump's son-in-law Jared Kushner took the stand to discuss his own role in combating the outbreak.
Commenters on social media, however, did not care for what he had to say — and roundly criticized his appearance.
I didn't see it so let me just get this straight: Jared Kushner -- who has exactly about as many qualifications for dealing with a pandemic as he did for concocting Mideast peace -- was on hand to brief the American people about the #COVID19Pandemic but Dr. Fauci wasn't? Ok then. https://t.co/I94u3dYCAB
Trump blasted as ‘commander of confusion’ in Washington Post review of his coronavirus failures
President Donald Trump's response to the COVID-19 coronavirus was detailed in a new Washington Post story.
"In the three weeks since declaring the novel coronavirus outbreak a national emergency, President Trump has delivered a dizzying array of rhetorical contortions, sowed confusion and repeatedly sought to cast blame on others," the newspaper reported.