The fund headed by Paul Singer, one of world’s most feared activist investors, has taken a significant stake in Twitter. Elliott Management plans to make changes at the social media company, including potentially replacing its founder and CEO Jack Dorsey, Bloomberg reported yesterday. Dorsey owns only about 2% of the company, making him particularly vulnerable to such plans.
Now, the social network’s users are responding to the news. Some are concerned about Singer’s connection to Donald Trump. A GOP mega-donor, Singer donated $1 million to Trump’s inaugural committee, after initially supporting senator Marco Rubio’s presidential campaign ahead of the 2016 election. Trump has accused platforms like Twitter and Facebook of exhibiting an “anti-conservative bias.”
Others have suggestions for how Elliott could improve the platform.
Some think this is the wakeup call the platform needs…
…while others are standing with Dorsey.
Finally, users have taken issue with Bloomberg’s categorization of Elliott Management as an “activist investor.” Critics have often referred to it instead as a “vulture fund,” focused on short-term wins in its own interest.
The one man everyone would like to hear from, however, has stayed silent. Dorsey’s most recent tweet was about bitcoin and Square, the other company that counts him as CEO.