5 Things to Know About Twitter's Former CEO Jack Dorsey

A new chapter for Twitter. Jack Dorsey, the cofounder of the company, announced his resignation from the social media giant on Monday, November 29.

The Missouri native, 45, had been with the company on and off since its inception in 2006, beginning his most recent stint as CEO in 2015. “Not sure anyone has heard but,” Dorsey tweeted on Monday. “I resigned from Twitter.”

The tech entrepreneur also shared his resignation letter with his nearly 6 million followers. “After almost 16 years of having a role at our company … from co-founder to CEO to Chair to Exec Chair to interim-CEO to CEO … I decided it’s finally time for me to leave,” he wrote. “Why? … There are 3 reasons I believe now is the right time.”

The philanthropist went on to say that he felt comforatble leaving the business in the hands of Parag Agrawal, who will replace him, and was confident in board chair Bret Taylor‘s leadership. He also thanked all of the other employees at Twitter, saying that their “ambition and potential” has made the company what it is today.

Though Twitter has a considerably smaller user base than Facebook, Instagram and other social media platforms, the company has been at the center of several high-profile controversies over the past several years.

Last year, Twitter dealt with a serious hack that compromised the accounts of world leaders and business titans, including President Joe Biden, former President Barack Obama, Elon Musk and Bill Gates. “Tough day for us at Twitter,” Dorsey tweeted in July 2020 in response to the security breach. “We all feel terrible this happened.”

The company faced more drama earlier this year after permanently banning former President Donald Trump from the platform after the January 6 attack at the U.S. Capitol. Though the news angered Trump, 75, and his supporters, other critics thought the move came too late.

After the ban, Dorsey said that he felt Twitter had made the “right decision,” adding that he was worried about the “precedent” it set. “Offline harm as a result of online speech is demonstrably real, and what drives our policy and enforcement above all,” he tweeted in January. “That said, having to ban an account has real and significant ramifications. While there are clear and obvious exceptions, I feel a ban is a failure of ours ultimately to promote healthy conversation.”

According to The New York Times, however, Dorsey was not the person who made the call about banning Trump’s account — the decision was made by one of his employees because the then-CEO was away visiting French Polynesia. At the time, some critics interpreted this as a sign that Dorsey was not fully present in his role at Twitter.

Keep scrolling for more details on Dorsey:

1. He Cofounded Twitter.
Inspired by the popularity of LiveJournal and AOL Instant Messenger, Dorsey cofounded Twitter with Biz Stone and Evan Williams in 2006. Just two years later, however, Dorsey was fired as CEO but stayed on with the company as chairman. He returned to the CEO job in 2015. Thaddaeus McAdams/Shutterstock

2. He’s Also the Cofounder of Square.
In addition to cofounding Twitter, Dorsey cocreated Square, the mobile payments app, in May 2010. He remains the chairman and CEO of that company. Shutterstock

3. He Never Finished College.
Dorsey attended the Missouri University of Science and Technology for two years before transferring to New York University in 1997. He completed two years there, but he dropped out one semester before graduating. Jeff Gilbert/Shutterstock

4. He’s Worth Nearly $12 Billion.
According to Forbes, the tech whiz is worth $11.9 billion as of 2021. In May, he donated $15 million to COVID-19 relief efforts in India, and in 2019, he donated $10 million to Boston University's Center for Antiracist Research. He has also donated money to Missouri public schools and other environmentally-focused projects. Andrew Gombert/EPA/Shutterstock

5. He Sold His 1st Tweet as an NFT.
In March, Dorsey sold his first-ever tweet as a nonfungible token, or NFT, for $2.9 million. Posted in March 2006, the tweet read, “Just setting up my twttr." Proceeds from the sale went to a charity working on COVID-19 relief in Africa. PIERRE VILLARD/SIPA/Shutterstock

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