Economy

Twitter founder Jack Dorsey leaves leadership of the company to Parag Arghawal. Stocks are on a sharp rise on Wall Street

Jack Dorsey He resigns as the CEO of Twitter. His place will be taken by Parag Agrawal. This was announced by Twitter in a note, noting that Dorsey will remain on the board until his term ends in 2022. Dorsey passes the baton to lead SMS social network Founded by himself in 2006. Company Address Wall Street rose 3.4% after gaining 11%. forty-five yearsDorsey has personal assets of less than $12 billion (10.6 billion euros). He is the CEO of Field, a smartphone financial services company founded in 2009. “I decided to leave because I believe the company is ready to move forward. My trust in Barrage runs deep, it is time to lead the company,” Jack Dorsey said in a statement on Twitter.

Twitter has more than 300 million users worldwide and is worth in the stock exchange 37 billion dollars. It closed the first nine months of the year with $3.5 billion in revenue and $403 million in losses. The main shareholders of the company are Morgan Stanley (8,6%) Vanguard Group (8,2%) e Black Rock (4,5%).

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