Elon Musk is vowing to support Twitter boss Jack Dorsey against the activist hedge fund trying to oust him

Source: Business Insider:::

March 3, 2020 at 07:36

Elon Musk, the founder of SpaceX, speaks during a press conference. Joe Skipper/Reuters

On Monday, Twitter employees rushed to defend their leader, firing off tweets with the hashtag #webackjack.

Twitter CEO Jack Dorsey won a high-profile ally on Monday, as Elon Musk voiced his support for Dorsey amid an escalating battle to oust him from the top job.

"Just want to say that I support @jack as Twitter CEO," Musk tweeted, adding that Dorsey has a good heart, using the heart emoji.

Dorsey is under attack from billionaire Paul Singer's activist hedge fund Elliott Management, which has amassed a nearly 5% stake in Twitter and is launching a pressure campaign to replace Dorsey in the top job, according to media reports. Elliott will make that case that Dorsey, who is also CEO at Square, is not focused enough on Twitter, according to Bloomberg, which first reported the news.

Musk is also the chief executive of two companies, wearing the CEO hat at electric car maker Tesla and space exploration company SpaceX. And Musk has a long history of picking fights with financial foes, particularly the short-sellers that have long targeted Tesla's stock.

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