Shulou(Shulou.com)11/24 Report--

According to news in the morning of November 1, Beijing time, American billionaire Elon Musk (Elon Musk) is reported to be the new owner of social media Twitter, and the latest news shows that Twitter co-founder and former CEO Jack Dorsey will continue to have a stake in Musk's private Twitter company, Musk's acquisition has saved a lot of money.

According to Twitter's regulatory filing with the Securities and Exchange Commission, Dorsey still has a 2.4% stake in Twitter, which he will continue to transfer to X Holdings, Musk's new holding parent company for Twitter.

Dorsey's current 18 million Twitter shares have a market value of about $1 billion (currently about 7.3 billion yuan), according to the documents. It also means that Musk's economic cost of buying Twitter has been reduced by $1 billion, and the financing burden has been reduced.

There have been rumors that Dorsey will participate in Musk's merger and acquisition of Twitter, but so far, Dorsey has not confirmed to the outside world his participation in the deal or the translation of his existing stake.

Dorsey agreed to transfer his stake to the new company in April when Mr Musk signed an agreement to buy Twitter for the first time, according to regulatory filings. The transfer of all Dorsey's shares was completed on Tuesday, the same day Musk became the new boss of Twitter.

In a previous lawsuit between Musk and Twitter (Twitter asked Musk to enforce the agreement to buy the site at the original price), some private chats were exposed in court. According to the information, Dorsey and Musk have always been good friends, and before Musk decided to buy Twitter, Dorsey and Musk had extensive discussions on the topic.

In addition, as Musk has implemented the acquisition agreement, he has become the new owner of Twitter. The above-mentioned Twitter case against Musk will also be closed by the court.

Musk, who is reported to be working at Twitter headquarters, has asked for rapid changes to some of the platform's certification processes, one of which is to invent more revenue models on Twitter.

In addition, Twitter has a short video platform, Vine, and Musk wants to see a financial return on this business.

Twitter's engineering team is reportedly working overtime in almost "24 / 7" mode in response to a series of orders issued by the new boss.

It should be noted that Twitter is widely expected to see massive layoffs soon. Twitter has drawn up a list to determine who will go and who will stay, and the layoff plan has been fully finalized, the source told the technology media.

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