Jack Dorsey tried to get Elon Musk on Twitter's board but directors were 'risk averse,' texts reveal

Before the existent ineligible saga betwixt Twitter and billionaire Elon Musk played retired successful public, ex-Twitter CEO Jack Dorsey wanted Musk connected the societal media company's board. But helium didn't spot the different directors going on with him, a tribunal filing Thursday revealed.

In a substance connection to Musk connected March 26, Dorsey wrote, "the committee is conscionable ace hazard averse and saw adding you arsenic much risk." A small implicit a week later, Musk did denote plans to articulation the board, earlier helium changed people and offered to bargain the company.

Soon aft agreeing to acquisition Twitter for $44 billion, Musk again changed absorption and tried to backmost retired of the deal. Twitter is suing to effort and unit him to clasp up his extremity of the agreement. The 2 sides are acceptable to spell to Delaware Chancery Court successful mid-October.

In the tribunal filing, which is partially redacted, Dorsey said helium thought the board's attack "was wholly anserine and backwards." But, helium explained, his powerfulness was constricted due to the fact that "I lone had 1 vote, and 3% of company, and nary dual people shares. Hard acceptable up."

The 2 billionaire entrepreneurs had been discussing Dorsey's thought that Twitter should beryllium "an unfastened root protocol" funded by a foundation, alternatively than a company. Musk responded that the thought was "Super interesting."

Dorsey said helium planned to "do this enactment and hole our mistakes" erstwhile helium was disconnected the Twitter committee successful mid-May, saying that becoming a institution was Twitter's "original sin."

"I'd similar to assistance if I americium capable to," Musk replied.

Dorsey told Musk he'd wanted to speech with him astir the thought "after I was each clear," adding that he'd adjacent tried to get Musk connected the board, "back erstwhile we had the activistic travel in." Dorsey said that astatine the time, "our committee said no" to the proposal.

While Dorsey didn't specify what helium meant by activist, the institution was successful a conflict successful aboriginal 2020 with activistic concern steadfast Elliot Management, whose founder Paul Singer sought to regenerate Dorsey arsenic CEO owed to his divided attraction moving some Twitter and Square (now Block). Twitter reached a deal with Elliot and Silver Lake that allowed Dorsey to support his job.

After the committee said nary to adding Musk, according to Dorsey, "That's astir the clip I decided I needed to enactment to leave, arsenic hard arsenic it was for me."

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