Jack Dorsey, Twitter co-founder, lauds Elon Musk's takeover: 'Elon is the singular solution I trust'

Jack Dorsey, Twitter co-founder and former CEO, said that Elon Musk's $44 billion Twitter acquisition is the "right path" for the social media giant.

Dorsey stepped down as Twitter CEO in November.

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In a Monday night statement, Dorsey said that Musk's move to privatize the company is important.

"In principle, I don't believe anyone should own or run Twitter," he wrote. "It wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness."

He continued, "The idea and service is all that matters to me, and I will do whatever it takes to protect both. Twitter as a company has always been my sole issue and my biggest regret. It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step."

"Elon’s goal of creating a platform that is 'maximally trusted and broadly inclusive' is the right one," he continued. "This is also [current CEO Parag Agrawal's] goal, and why I chose him. Thank you both for getting the company out of an impossible situation. This is the right path...I believe it with all my heart."

He added, "I'm so happy Twitter will continue to serve the public conversation. Around the world, and into the stars!"

Dorsey made headlines earlier in April after speaking out about the Twitter board of directors' "dysfunction" following Musk's offer to purchase the tech company.