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March 2, 2020, 9:11 p.m. EST

Elon Musk joins Twitter employees in public show of support for Jack Dorsey

Workers post #WeBackJack messages amid aggressive move by hedge fund

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By Mike Murphy


Reuters
Jack Dorsey, co-founder of Twitter and fin-tech firm Square.

An activist investor is looking to oust Twitter Inc. Chief Executive Jack Dorsey, but a number of employees and at least one outspoken fellow tech CEO — Elon Musk — are publicly backing the social network’s co-founder.

“Just want say that I support @Jack as Twitter CEO. He has a good [heart],” Musk tweeted late Monday.

The Tesla Inc. /zigman2/quotes/203558040/composite TSLA +0.16%   CEO — who has a long been a Twitter power user — wasn’t the only one singing Dorsey’s praises. A hashtag, #WeBackJack, started trending late Monday, with Twitter employees backing their boss.

Here’s what some were saying:

Buzzfeed reported that the hashtag effort grew organically out of an internal Slack channel, and not at the behest of Twitter management.

Separately Monday, Twitter asked all its employees to work from home, if possible, in order to help stop the spread of the coronavirus. That came a day after Twitter suspended all non-critical travel and events, including a scheduled appearance by Dorsey at the upcoming South by Southwest tech conference.

On Friday, Bloomberg News reported that activist investor Elliott Management had taken a $1-billion stake in Twitter, and was seeking to replace four directors, as well as Dorsey.

Read: Twitter’s Jack Dorsey faces another crisis, this time from an activist investor

Twitter has come under intense criticism in recent years over the platform’s inability to crack down on misinformation and hateful speech, and Dorsey has been criticized for splitting his CEO duties with his other company, Square Inc. /zigman2/quotes/205989440/composite SQ +4.51%   and wanting to spend several months this year living in Africa.

Twitter’s stock /zigman2/quotes/203180645/composite TWTR +8.12%  , which surged Monday, has also been relatively stagnant compared to its social-media rivals, such as Facebook Inc. /zigman2/quotes/205064656/composite FB -1.10%   and Snap Inc. /zigman2/quotes/205087158/composite SNAP -0.10%  

/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 882.96
+1.40 +0.16%
Volume: 7.95M
June 3, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$163.77 billion
Rev. per Employee
$439,627
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/zigman2/quotes/205989440/composite
US : U.S.: NYSE
$ 91.97
+3.97 +4.51%
Volume: 17.09M
June 3, 2020 4:00p
P/E Ratio
150.99
Dividend Yield
N/A
Market Cap
$40.41 billion
Rev. per Employee
$984,824
loading...
/zigman2/quotes/203180645/composite
US : U.S.: NYSE
$ 34.88
+2.62 +8.12%
Volume: 28.40M
June 3, 2020 4:00p
P/E Ratio
21.64
Dividend Yield
N/A
Market Cap
$27.37 billion
Rev. per Employee
$776,112
loading...
/zigman2/quotes/205064656/composite
US : U.S.: Nasdaq
$ 230.16
-2.56 -1.10%
Volume: 15.38M
June 3, 2020 4:00p
P/E Ratio
31.54
Dividend Yield
N/A
Market Cap
$655.75 billion
Rev. per Employee
$1.57M
loading...
/zigman2/quotes/205087158/composite
US : U.S.: NYSE
$ 19.73
-0.02 -0.10%
Volume: 38.33M
June 3, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$28.52 billion
Rev. per Employee
$409,309
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