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Musk Is The Sole Director And New CEO Of The Social Media Network Twitter

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Elon Musk

Elon Musk

According to a filing on Monday, Elon Musk is prepared to lead Twitter as CEO after completing the buyout last week. Wall Street experts have expressed worries about his most recent acquisition, the social networking platform, which he purchased for $44 billion. Musk already owns the tunneling company The Boring Company, the brain-chip startup Neuralink, and the rocket company SpaceX.

He sacked Parag Agrawal, along with other top executives, from his position as CEO as soon as he acquired Twitter. He had previously updated his Twitter bio to read “Chief Twit.” How long Musk will hold the position of CEO has not yet been disclosed by the corporation. Prior to appointing a new CEO, Musk will serve as temporary CEO, according to Bloomberg. Musk has also resigned from the board of directors. Musk revealed in another filing on Monday that as a result of the takeover, he is now the sole director of Twitter.

“The following persons, who were directors of Twitter prior to the effective time of the merger, are no longer directors of Twitter: Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li, and Mimi Alemayehou,” Musk said in the filing. Without providing any other information, Musk later tweeted that the decision to abolish the board was “only temporary.” According to Reuters, Musk has begun holding meetings with some staff members to better understand the workings of the platform and the software that powers Twitter.

Since Musk took over, there have been rumors circulating in the market. For the Twitter Blue Badge subscription, which also includes user authentication, he reportedly intends to charge $20 per month. The Verge reports that Musk informed the crew on Sunday that failure to implement the functionality by November 7 would result in termination.

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