Jack Dorsey, Twitter co-founder, at a 2021 event in Miami, Florida. Photo: Joe Raedle/Getty Images
Twitter co-founder Jack Dorsey retained a 2.4% stake in the microblogging site after Elon Musk completed his $44 billion acquisition, according to a new filing with the Securities and Exchange Commission.
By the numbers: The filing indicates that Dorsey rolled over some 18 million shares when Twitter became private.
- The value of the former Twitter CEO's shares represents about $1 billion, saving Musk a substantial payout to Dorsey, per Business Insider.
The big picture: Dorsey has been supportive of Musk taking over Twitter since before he left the social media company's board of directors last May.
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