Dorsey's decision saved the Tesla mogul about $1 billion in his takeover of the social media platform.
According to securitiesMonday evening, Dorsey opted to roll his ownership stake in the company over to Musk’s new private venture.
While Musk had said in the months leading up to the closing of the deal that he had been in talks with Dorsey to roll over his stake, neither man had confirmed the deal until the filings were disclosed on Oct. 31.in Twitter, valued at about $1 billion. He could have cashed those shares out at $54.20 a piece when Musk took the company private, instead, he will end up saving Musk about $1 billion in his purchase price by rolling those shares over.
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