Nov 29, 2021, 10:08am
CNBC is reporting that Jack Dorsey is expected to leave his role at the social media company.
Jack Dorsey, creator, co-founder, and Chairman of Twitter and co-founder and CEO of Square, arrives at the convention.
The images are from the same company.
The CNBC report caused the stock to surge in pre-market trading.
Forbes asked for comment from the social media company.
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Over the past few years, the company he co-founded has experienced turbulence. Last year, he was attempting to leave the executive suite over the platform's slow growth. Donald Trump is one of the controversial public figures that have faced backlash over his hesitancy to censor users. Early this year, Trump was permanently banned from the social media platform after it took steps to manage the spread of misinformation. During a congressional hearing in March, Dorsey testified about the role social media platforms played in the Capitol riot.
A total of $11.8 billion. According to a Forbes estimate, it is how much Dorsey is worth.
The key background.
After cofounding and serving as CEO of the social media company until 2008, Jack Dorsey returned as CEO in 2015, only to be replaced again in the following year. He is the CEO of Square, a company he founded. He takes daily ice baths, eats only one meal a day, and fasts on weekends, which is why he is considered a tech guru. He trained as a masseuse.
Sources say that Jack Dorsey is stepping down.
