come up with brilliant ideas, and push Twitter to new heights when the boss only pops in during the morning. (In late November 2019, Dorsey announced that he planned to live in Africa for part of the next year – which he abandoned in the face of COVID-19 restrictions and heavy criticism. It’s bad enough to be a part-time CEO... and it’s far worse if you’re eight or so time zones away from the company you’re ostensibly managing.)
if people think you’re weird (in July, Business Insider delicately labeled him “unusual”). The problem, though – for Twitter shareholders, at least – is that Square is a lot more important to Dorsey’s personal bottom line than Twitter. He owns (as of March) 13% of Square, which is worth around $17 billion. Meanwhile, the 2% of Twitter that Dorsey controls is valued at about $1 billion. Which company would you spend more time on? (The $2.9 million Dorsey made by selling his first-ever tweet as an NFT wouldn’t have even been enough to amount to a rounding error for Dorsey’s net worth. He gave that money, significant shareholdings in Square, and other assets to charity.) Twitter’s CEO is part-time and not as focused on, or invested in, the company as he is with his other interests. It’s tough to get senior management – or anyone else – to work hard,
He owns (as of March) 13% of Square, which is worth around $17 billion. Meanwhile, the 2% of Twitter that Dorsey controls is valued at about $1 billion. Which company would you spend more time on?
AP
AP
American Consequences
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