The thing with Twitter is, Jack doesn't have as much power as everyone think he has. Sure he's the CEO, but he's not a majority shareholder, and he's definitely not some Twitter overlord that gets to call literally all the shots. Executive committees and company board of directors has significant power over public companies.
You are right
I was researching about this and found some interesting stuff:
Most people probably assume that Jack Dorsey is the primary founder and only CEO that Twitter has ever had. In reality, Jack is a co-founder. He launched Twitter in 2006 alongside Biz Stone, Evan Williams and Noah Glass. Jack served as the company's first CEO but was reportedly forced to step down in 2008 by his co-founders and their venture capitalist backers because he was spending too much time on extracurricular hobbies like yoga and meditation retreats. Seriously.
Evan Williams served as CEO from 2008 to 2010. A guy named Dick Costolo served as CEO from 2011 to 2015, at that point Dorsey rode back in as CEO, a position he still holds today.
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Because Jack Dorsey doesn't own all that much Twitter stock. Jack owns around 2% of the company. By comparison, Mark Zuckerberg owns 30% of Facebook. The Google founders both own around 14% of Alphabet. Elon Musk owns 22% of Tesla.
https://www.celebritynetworth.com/articles/billionaire-news/jack-dorsey-twitter-fall/Jack looks like a smart guy. He became a billionaire and he spent more time with extracurricular hobbies (like yoga and meditation). Lol that's amazing! That's certainly an important thing to do as a billinaire. If I were a billionaire I would certainly avoid those endless meetings that a CEO job requires...
Anyway, CEO has some powers, but he has only 2% of shares. He cannot rule Twitter as he wants.