Twitter is regularly seen as one of the last Wild Wests of the major social platforms although it has historically done little to clamp down on rampant abuse and harassment from trolls. But some are uncertain about the app’s future as news breaks that billionaire Paul Singer has taken a “sizable stake” in the business.
Through his company Elliott Management, Singer now has a foot hold in the company and, according to Bloomberg, plans to unseat current CEO Jack Dorsey. For an upcoming annual meeting for the company, Elliott has already nominated four directors to Twitter’s board of directors, though there are only three seats available. Elliott is known for regularly pushing change onto the companies that it invests in.
Singer, founder and co-ceo of Elliott, is known widely as a Republican mega-donor. Prior to 2016, he was ardently against Trump, reportedly backing a political action committee set to end the reality star’s bid for the presidency. But since, Singer has changed his tune.
The hedge fund magnate gave $240,000 to the Republican Party in the spring of 2018 ahead of a fundraiser for Trump’s reelection campaign. He also reportedly donated to Trump’s inaugural committee.
“As you know, Paul was very much involved with the anti-Trump or as they say ‘Never Trump’ and Paul just left and he’s given us his total support and it’s all about unification,” Trump said in a press conference after the two reportedly met in 2017. “So, I want to thank Paul Singer for being here and coming up to the office. He was a very strong opponent and now he’s a very strong ally and I appreciate that.” Singer’s camp confirmed the meeting and described it as a “good exchange of ideas.”
How this will hold up for the rest of us once Singer truly sinks his fingers into Twitter, is yet to be determined.