Billionaire Republican buys major Twitter stake, may oust CEO Dorsey

Billionaire Republican buys major Twitter stake, may oust CEO Dorsey
Image: LU Staff

[Ed. – Democrats suddenly flee Twitter in droves.]

A billionaire Republican megadonor has purchased a “sizable” stake in Twitter and “plans to push” to oust CEO Jack Dorsey among other changes, according to new reports, raising the prospect of a shocking election-year shakeup of the social media platform that conservatives have long accused of overt left-wing political bias.

Paul Singer’s Elliott Management Corp. has already nominated four directors to Twitter’s board, a development first reported by Bloomberg News, citing several sources familiar with the arrangement. The outlet noted that unlike other prominent tech CEOs, Dorsey didn’t have voting control over Twitter because the company had just one class of stock; and he has long been a target for removal given Twitter’s struggling user growth numbers and stock performance.

Singer, who opposed President Trump’s campaign in 2016, has since changed his tune. …

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