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Billionaire Paul Singer buys stake in Twitter, seeks to oust Jack Dorsey

By Reuters | March 2nd 2020
Twitter CEO Jack Dorsey arrives at the "Tech for Good" Summit in Paris, France. [Reuters]

Hedge fund Elliott Management Corp has amassed a stake in Twitter Inc and is pushing for changes, including removal of the social media company’s chief executive Jack Dorsey (pictured).

Twitter is one of the few US technology companies headed, but not controlled, by one of its founders.

It has given shareholders equal voting rights, making Mr Dorsey, who owns only about two per cent of the company, vulnerable to a challenge from an activist investor such as Elliott.

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