Twitter Inc co-founder Jack Dorsey said on Wednesday he has no plans to lead the social media giant again – hinting at his limited involvement if Elon Musk successfully closes the takeover deal. The statement comes after a recent regulatory filing showed Musk was in talks with Dorsey to contribute his shares to the proposed acquisition, Reuters news agency reported.

Apparently, Dorsey, who currently runs payment company Block Inc, owns a 2.4% stake in Twitter.

Two years after Twitter launched, Dorsey was replaced as the social media company’s CEO in 2008. However, he had taken over the role in 2015 before handing the job over to chief technology officer Parag Agarwal in 2021.

Read also : Jack Dorsey backs Twitter takeover amid concerns: ‘Elon’s goal is the right one’

Tesla CEO Elon Musk bought Twitter following a $44 billion deal on April 25. Reports suggest Musk could temporarily take over the helm of the social media company.

Meanwhile, former CEO Jack Dorsey on Wednesday agreed with Elon Musk on his plan to reinstate former US President Donald Trump’s Twitter account. Clarifying his position, Dorsey said he agreed with Elon Musk that permanent bans are a failure.

“It was a business decision, it shouldn’t have been, and we should always review our decisions and evolve as necessary. I have stated in this thread and I still believe that permanent bans of individuals are directionally wrong,” Dorsey said.

Jack Dorsey was the CEO when Twitter permanently suspended Donald Trump’s account

He further added, “We made the decision based on the information we had and what we thought was best. impossible situation. I’m saying a company shouldn’t have to make that decision in the first place, not for something as important as public conversation.

Read also : Elon Musk to replace Parag Agrawal and take over as interim CEO of Twitter after takeover: report

Responding to questions about why it’s wrong to ban someone on a virtual platform the same way it can be done in real life, Dorsey said: “Twitter is not a bar. “

(With contributions from Reuters)