As per reports, chief executive of Twitter Jack Dorsey has resigned.

Dorsey co-founded the social networking company back in 2006 and has since served as CEO. With Jack’s name making headlines, Twitter users are keen to know more about the former chief executive, including his net worth.

Jack Dorsey resigns from Twitter

Jack Dorsey has confirmed that he will be stepping down from his position as chief executive at Twitter.

The company co-founder penned a lengthy email, which was later posted to Twitter, to announce his resignation.

Dorsey explained: “I want you all to know that this was my decision and I own it. It was a tough one for me, of course. I love this service and company… and all of you so much. I’m really sad… yet really happy. There aren’t many companies that get to this level. And there aren’t many founders that choose their company over their own ego. I know we’ll prove this was the right move.”

The former CEO cofounded Twitter in 2006 with Ev Williams, Biz Stone and Noah Glass, and was CEO until 2008. He returned in 2015.

Photo by Joe Raedle/Getty Images

Jack Dorsey’s net worth explored

As per Forbes, Jack Dorsey’s net worth is an estimated $11.9 billion as of 2021.

The entrepreneur has multiple streams of income, given that he is the (former) CEO of Twitter and CEO of small business payments company Square.

Forbes reports that Dorsey vowed to give away $1 billion to Covid-19 relief and other causes, through gifts of his Square stock.

Who will be new Twitter CEO?

Current chief technical officer, Parag Agrawal, is set to replace Dorsey as Twitter CEO, reports say.

Agrawal confirmed his newly appointed position, tweeting: “Deep gratitude for @jack and our entire team, and so much excitement for the future. Here’s the note I sent to the company. Thank you all for your trust and support.”

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