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Reformer pitches “public benefit” structure for Twitter
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Reformer pitches “public benefit” structure for Twitter

Corporate reformer pitches new structure for Twitter. New structure based on “public benefit corporation”.

Where: United States

The Facts

A prominent corporate reformer has pitched an idea to Elon Musk as the latter assumes control of Twitter Inc – to turn the social media platform into a “public benefit corporation” (PBC) to work for all stakeholders, not just its investors.
Rick Alexander, the CRO of The Shareholder Commons, stated that adopting this specific legal structure would be one of several ways that Twitter (TWTR.N) could ensure that it serves the public interest – even in the event that Musk eventually sells the company again.
Alexander stated, “If you want a company to be more responsible, a PBC is an enabler.”
Other ideas that Alexander’s nonprofit advocacy group plans to outline to Musk include: setting rules to protect Twitter’s transparency and creating an independent trust to enforce those procedures.
Alexander stated that once Twitter is taken private, “all the pressure that you might feel from public shareholders to maintain a healthy online discourse will go away.”

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