Dorsey founded Twitter in 2006 together with several colleagues. The magazine «Forbes» estimates his fortune at around 10.91 billion Swiss francs.

In 2008 Jack Dorsey resigned the management of the operative business before returning to the top of the company in 2015. Now he has resigned.

 Twitter boss Jack Dorsey is leaving his CEO post

In 2009 Dorsey also founded the payment service Square.

 Twitter boss Jack Dorsey resigns his CEO post

The 45-year-old multi-billionaire is now the boss of both companies, which is causing criticism from shareholders.

That's what it's all about

  • Twitter boss Jack Dorsey has resigned.

  • Parag Agrawal will be his successor at the top of Twitter.

  • The technology exchange Nasdaq temporarily suspended trading in the Twitter share.

Jack Dorsey, the boss and co-founder of the short message service Twitter, wants to give up the management of the company, according to CNBC. The US broadcaster reported on Monday, citing anonymous sources, that Dorsey would resign from his post. His successor at the top of Twitter will be Parag Agrawal, as the AFP news agency writes.

Shares in the short message service rose on Monday following a media report on the resignation. Their value rose by more than ten percent on the New York Stock Exchange in the morning before the exchange suspended trading in the papers. Twitter initially did not respond to a request from the AP news agency. On Sunday Dorsey tweeted: “I love Twitter.”

Dorsey founded Twitter in 2006 together with several colleagues. He gave up the management of the operational business in 2008 before returning to the top of the company in 2015. In 2009 Dorsey also founded the payment service Square. The 45-year-old multi-billionaire is now the boss of both companies, which is causing criticism from shareholders. Forbes magazine estimates his fortune at $ 11.8 billion. That's about 10.91 billion Swiss francs.

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(AFP/DPA/mur)

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By Teresa Tapmleton

Teresa Tampleton has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Nizh TEkegram, Teresa Tampleton worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my teresa@ntelegram.com 1-800-268-7341

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