Elon Musk finalized the $44 billion deal to buy the social media giant Twitter after months. Since then, Musk has made some sweeping changes in the team by firing the CEO and some top executives. There have been a surge in N-word and abuse on the platform since he took over.
Now, it’s been reported that Twitter co-founder Jack Dorsey has retained his stake in the company after the South African billionaire finished the acquisition. Let’s find out what the filings said and if Dorsey’s involvement will be beneficial for the company or not.
Read More: Why Is There A Sudden Surge In N-Words And Slurs On Twitter After Elon Musk Took-over?
Jack Dorsey Retained His Twitter Stake After Elon Musk Took Over
Elon Musk has been making changes in Twitter ever since his business deal was finalized. He has fired the company’s CEO, CFO, and other top executives.
According to a security filing obtained by The Hollywood Reporter, Twitter’s co-founder Jack Dorsey has opted to retain his stake after the acquisition. The Tesla CEO had said that he had been in talks with Dorsey to roll over his stake.
Dorsey owned more than 18 million shares which are valued at around $1 billion. His action has ended up saving Musk approx $1 billion in his purchase price.
With this rollover, Jack continues to be one of Twitter’s largest shareholders, after only Musk and Saudi Arabian Prince Alwaleed Bin Talal, who rolled over about $1.9 billion worth of stock.
Read More: Elon Musk Says He Had Nothing To Do With Kanye West’s Twitter Account Being Reactivated
Twitter Sees A Surge In Instances Of N-Words
According to a report from the Princeton-based Network Contagion Research Institute, which tracks “cyber-social threats”, there has been a sudden surge in the use of N-words on Twitter.
This happened right after the SpaceX founder took over the company. The instances of the N-word have increased by almost 500% in a 12-hour period over the previous average.
Yoel Roth, Twitter’s head of safety and integrity issued a statement. He said that Twitter has seen “a small number of accounts post a ton of tweets that include slurs and other derogatory terms.”
He said more than 50,000 tweets using “a particular slur” (the N-word) came from just 300 accounts that are inauthentic. Roth further added, “Hateful conduct has no place here. And we’re taking steps to put a stop to an organized effort to make people think we have.”
Read More: “The Bird Is Freed”: Elon Musk Finally Closes Twitter Deal After Months Of Delay
