Dec 23 2013, 4:48pm CST | by Forbes
Silicon Valley is in high demand these days, even in the happiest place on earth. Today, Disney announced that Twitter and Square billionaire Jack Dorsey was elected to Mickey Mouse’s board of directors.
Dorsey joins fellow tech royalty Sheryl Sandberg on Disney’s board. The Facebook COO has served as a director since 2010, and has recently approached billionaire status. Dorsey replaces Judith Estrin, former CTO at Cisco Systems, who served a 15 year term.
“Jack Dorsey is a talented entrepreneur who has helped create groundbreaking new businesses in the social media and commerce spaces,” Disney Chairman and CEO Robert Iger, said in a statement. “The perspective he brings to Disney and its Board is extremely valuable, given our strategic priorities, which include utilizing the latest technologies and platforms to reach more people and to enhance the relationship we have with our customers.”
Dorsey, with stakes in the Twitter and his payments company Square, has a net worth of approximately $2.4 billion. That’s up significantly since Twitter’s recent IPO. One of Silicon Valleys’ youngest executives, the 36-year-old Dorsey is a New York University dropout who is also a certified masseur known for eclectic interests, which include punk music and high-quality blue jeans.
“I am honored and humbled to join the Disney Board,” Dorsey said in a statement. “Disney is a timeless company, one we all grow up learning from and admiring.”
Dorsey recently gave back 10% of his Square shares to the company to expand shares for employee compensation and acquisitions, according to a Fortune report.
Disney stock was up 1.22% on Monday, while Twitter continued its surge, going up 7.55%.
Source: Forbes Business
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