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Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

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Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

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Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Tech

How Jack Dorsey just made Twitter’s stock jump 9%

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Michal Addady
Michal Addady
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By
Michal Addady
Michal Addady
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August 10, 2015, 4:45 PM ET
Vanity Fair New Establishment Summit - Day 2
Twitter Co-Founder and Chairman and Square CEO Jack Dorsey speaks onstage during "From 7 Dwarves to 140 Characters" at the Vanity Fair New Establishment Summit at Yerba Buena Center for the Arts on October 9, 2014 in San Francisco, California. Photograph by Kimberly White — Getty Images for Vanity Fair

Twitter’s stock jumped 9% Monday after interim CEO Jack Dorsey and other company leaders announced notable purchases of the company’s stock.

Dorsey bought over 31,000 shares of stock, which amounts to about $875,000 worth, The New York Times reports, a minor addition to the nearly 22 million shares he already held. Board member Peter Currie bought about 9,200 shares at around $250,000. Peter Fenton, venture capitalist and board member, and Anthony Noto, Twitter’s chief financial officer, each purchased about $200,000 worth of stock.

By one interpretation, the stock purchases are a show of executive support for the beleaguered Twitter. The company’s stock recently hit an all-time low after the company reported weak user growth, while reports have surfaced of internal tension over the firm’s future.

 

Twitter is additionally in the middle of a search for a permanent CEO, with some prominent voices arguing that Dorsey, also a company co-founder and one-time CEO, should keep the job full-time. Dorsey’s move may be a leadership gesture meant to persuade any reticient members of the board that he has the skills to return as chief executive.

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