“Elon is the singular solution I trust”: Jack Dorsey lauds Twitter's acquisition by Musk

Washington: Former Head and Co-Founder of Twitter, Jack Dorsey, on Tuesday endorsed that the company be acquired by billionaire Elon Musk, acknowledging trusting him and supporting his goal to make Twitter "maximally trusted and broadly inclusive."

On Monday, after nearly a month of negotiations, an agreement was reached on Musk's acquisition of Twitter for about $44 billion. The move will see the social media giant delisted from the New York Stock Exchange and turned into a private company.

Musk had earlier bought a 9.1 per cent stake in Twitter from the open market for nearly $3 billion before making a bid for its remaining shares, seeking to unleash the platforms potential of promoting free speech.

"It (Twitter) has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step. In principle, I don't believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness," Dorsey wrote on Twitter.

Dorsey also expressed support for Musk's goal of making the platform "maximally trusted and broadly inclusive," saying it falls in line with the goal of the current Twitter head, Parag Agrawal. "Thank you both (Agrawal and Musk) for getting the company out of an impossible situation. This is the right path," Dorsey added.

Agrawal assumed leadership of the company after Twitter issued a statement in November announcing the resignation of Dorsey, its chief executive and co-founder. (UNI)