Musk previously changed his Twitter bio to “Chief Twit,” in an indirect reference to his planned move
Elon Muskthe chief executive of Tesla Inc, said in filings yesterday that he will be its chief executive Twitter, of the social media company, which it just acquired for $44 billion.
Wall Street analysts have said the move will push the billionaire to his limits.
Musk, who also runs rocket maker SpaceX, neurotechnology startup Neuralink and tunnel boring company Boring Company, last week fired Twitter’s former CEO Parag Agrawal, along with other top executives.
Tesla’s stock has lost 1/3 of its value since Musk made his offer to buy Twitter last April, compared with a 12% drop in the S&P 500 over the same period.
Musk previously changed his Twitter bio to “Chief Twit,” in an indirect reference to his planned move. Twitter declined yesterday to comment on how long Musk will remain as the company’s CEO or whether someone else will be appointed.
Dear friend “Chief Twit” @elonmusk
Together all the way 🤝🏻 @Twitter https://t.co/J9rnd013xz pic.twitter.com/bXo6RUaUwk
— الوليد بن تلال (@Alwaleed_Talal) October 28, 2022
In other documents filed yesterday Musk revealed that he became the sole director of Twitter as a result of the acquisition.
“The following persons who were directors of Twitter prior to the time of the acquisition are no longer directors of Twitter: Brett Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li and Mimi Alemagehu,” Musk said in the documents.
Soon after, Musk said in a post that the move to dissolve Twitter’s board of directors “is just temporary,” without releasing further details.
Last week, Musk’s $44 billion takeover of the social networking company ended a months-long dispute.
In the immediate aftermath of the acquisition, Musk moved quickly to put his personal stamp on Twitter, while he spent months disparaging the social network itself, arguing that Twitter was slow to adopt changes or disable fictitious user profiles.
Musk’s teams have begun meeting with some employees to dig into Twitter’s software code to understand aspects of the platform’s operation, according to two sources with knowledge of the matter.
Twitter executives told Reuters they have had little communication with Musk or other executives and are trying to get a sense of what’s going on at the company from the news.
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