ARCHIVE PHOTO: Paul Singer, founder and president of Elliott Management Corporation, speaks at the WSJD Live conference in Laguna Beach, California, USA, October 25, 2016. REUTERS / Mike Blake / File Photo
NEW YORK (Reuters) – Activist hedge fund Elliott Management has built a stake in Twitter inc (TWTR.N) and is pushing for change, said a person familiar with the matter on Friday.
Founded by billionaire Paul Singer, Elliott, based in New York, is one of the largest activist investors in the world and seeks changes in leading companies to improve operations and, ultimately, share prices.
In non-business hours, the share price of the microblogging and social networking service rose 7.7% to $ 33.20.
CNBC reported that Elliott is trying to expel Twitter CEO Jack Dorsey, who is also the CEO of Square (SQ.N) Dorsey is the only person who is the CEO of two publicly traded companies.
Calls to Elliott and Twitter for comments were not immediately returned.
Reporting by Svea Herbst-Bayliss; Editing by Sandra Maler