A Republican mega-donor and converted Trump supporter has bought a large stake in Twitter and is planning to oust Jack Dorsey from his role as CEO, according to sources close to the matter.
Paul Singer, founder of investment management firm Elliott Management, has reportedly taken a hefty stake in the social media company and is planning to use his newfound influence to push for many changes, starting at the top.
One of the first things on his list is to force out CEO Jack Dorsey, sources told Bloomberg.
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The value of the stake in the firm is not known.
In 2017, Trump invited Singer to the White House and said afterwards that Singer 'was very much involved with the anti-Trump or, as they say, 'Never Trump', and Paul just left, and he's given us his total support and it's all about unification'.
It's no secret that Trump is a big fan of using Twitter to broadcast his thoughts to the world and to announce major events impacting the US.
But Twitter came under fire for is position on political ads, along with Facebook and Google, in September after it refused to remove a misleading video ad from Trump's campaign that targeted former Democrat Joe Biden.
Following the issue, Dorsey announced Twitter was banning all political advertising from its service, saying social media companies give advertisers an unfair advantage in proliferating highly targeted and misleading messages.
'We've made the decision to stop all political advertising on Twitter globally. We believe political message reach should be earned, not bought. Why? A few reasons…' Dorsey tweeted back in October.
Trump has regularly blasted Twitter, accusing it – along with Facebook and Google – of political bias against conservatives and even suggesting the platforms had tried to rig the election.
Following the issue, Dorsey announced Twitter was banning all political advertising from its service, saying social media companies give advertisers an unfair advantage in proliferating highly targeted and misleading messages.
'We've made the decision to stop all political advertising on Twitter globally. We believe political message reach should be earned, not bought. Why? A few reasons…' Dorsey tweeted back in October.
Trump has regularly blasted Twitter, accusing it – along with Facebook and Google – of political bias against conservatives and even suggesting the platforms had tried to rig the election.
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