As Dorsey Exits Twitter, Company’s Lobbying On The Rise

This article by Tara Suter is published by OpenSecrets. Here is an excerpt:

Former chief executive officer and co-founder of Twitter, Jack Dorsey, resigned on Monday and announced that Parag Agrawal, Twitter’s chief technology officer, will become the company’s leading executive as social media companies face increased scrutiny over data privacy and misinformation. 

Agrawal, who started working at Twitter as a software engineer in 2011, will receive a $1 million annual salary as the new Twitter CEO, according to Securities and Exchange Commission documents. Dorsey reportedly has a net worth of over $12 billion.

In the last few years, social media companies like Twitter have come under scrutiny for the prevalence of misinformation and the spread of election interference campaigns. Twitter has dramatically increased its lobbying efforts. In 2015, the company spent $500,000 on federal lobbying. Five years later, the company spent triple that at $1.5 million. 

Read the full article here.