Elon Musk Is Courting Ex-Twitter CEO Jack Dorsey for His Investment Team

thewrap.com:

leaned into censoring certain users and content in the months leading up to his resignation.How things have already changed.Dorsey is among a new group of investors being floated by Elon Musk, the free-speech champion massing billions to complete his purchase Twitter, to participate as an investor in his private version of the company, according to a Securities and Exchange Commission filing from Thursday.The more than $7 billion in new money includes 19 investors, some of whom are current Twitter shareholders – including Larry Ellison, Sequoia Capital, Qatar Holding, and Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud of Saudi Arabia.

Equity commitments range from $1 billion (Ellison) on down to $5 million (Honeycomb Asset Management).It wasn’t immediately clear how the $7 billion would fit into the standing $44 billion offer that Musk made for the company, which was accepted late last month.

But the new SEC filing suggests that “contribution commitments” – like Dorsey retaining some of his investment in the new private company – “may replace portions of the financing commitments previously reported by the Reporting Person [Musk] in connection with the Merger Agreement and the Merger contemplated thereby.”Dorsey resigned as Twitter CEO in November 2021, and ever since has hinted at his discontent with the company’s leadership – its board in particularly.Meanwhile, Musk and Dorsey have been building a rapport since long before Twitter was a twinkle in the Tesla and SpaceX founder’s eye – a relationship that developed at least partly Twitter.

After the company accepted Musk’s takeover offer, Dorsey said Musk was the “singular solution that I trust” to fix the company’s operational and PR problems, issues that have been.