A prominent investor with a history of ousting corporate leaders has bought stock in Twitter and says he may try to oust the company’s CEO, Jack Dorsey.
Paul Singer, the billionaire investor who leads Elliott Management, has made headlines in recent days after he bought a billion dollars of Twitter stock.
That purchase is not enough to gain control of the company but it may force changes in leadership, including Dorsey, which is catching the attention of many since Singer is a "megadonor" to Republicans.
Dan Gainor of MRC Tech Watch, a division of the Media Research Center, predicts that Singer’s main objective is to make money, not to correct the website’s anti-conservative bias.
“Now the question is will [Singer] just try to cash out – get them to run better, or get them to buy him out – or will he try to be more of an activist internally?” Gainor ponders.
Singer has a history of forcing changes in companies he buys into. He forced eBay's CEO out, for example, and kept another candidate from getting the head job at AT&T.
Dorsey (pictured at right) is a co-founder of Twitter, which launched in 2006 and has made him a billionaire.
Even if Singer's goal is simply to have Twitter's business run more efficiently, it still might address the bias issue, Gainor predicts.
“I don't think that the bias issue is just something you can kind of slough off and ignore. That's a lot of the problem,” he says.
Singer opposed President Trump's nomination in 2016 but has changed his views. He personally met with Trump in 2017 in a cordial face-to-face meeting.