Twitter co-founder Dorsey holding onto stake in firm

Twitter co-founder Jack Dorsey retained a 2.4% stake within the microblogging website after Elon Musk accomplished his $44 billion acquisition, in accordance with a brand new submitting with the Securities and Alternate Fee.

By the numbers: The submitting signifies that Dorsey rolled over some 18 million shares when Twitter turned non-public.

• The worth of the previous Twitter CEO’s shares represents about $1 billion, saving Musk a considerable payout to Dorsey, per Enterprise Insider.

The large image: Dorsey has been supportive of Musk taking up Twitter since earlier than he left the social media firm’s board of administrators final Might.

Go deeper… Axios Podcast — How It Occurred: Elon Musk vs. Twitter