‘Chief Twit’: Elon Musk Says He’ll Become Twitter CEO – National

Elon Musk, head of Tesla Inc, said in a filing Monday that he will serve as chief executive of Twitter, the social media company he just bought for $44 billion, a move the analyst said on Wall Street said he could thin out the billionaire.

Musk, who also runs rocket company SpaceX, brain-chip startup Neuralink and tunneling company The Boring Company, fired former Twitter boss Parag Agrawal and other senior company officials last week.

Tesla stock has lost a third of its value since Musk made a bid to buy Twitter in April, compared with a 12% decline in the benchmark S&P 500 index over the same period.

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Users can choose between different versions of Twitter: Elon Musk

Musk previously changed his Twitter bio to “Chief Twit” in reference to his proposed move.

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Twitter on Monday declined comment on how long Musk might remain CEO or appoint someone else.

In another filing Monday, Musk announced that he became the sole director of Twitter as a result of the acquisition.

“The following individuals who were directors of Twitter prior to the effective date of the merger are no longer directors of Twitter: Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, and Fei-Fei Li Mimi Alemayehou,” Musk said in the filing.

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Elon Musk is taking over Twitter amid mixed reactions from politicians and the public

Shortly thereafter, Musk tweeted that the move to wind down the board was “only temporary,” without elaborating on it.

Last week, Musk’s $44 billion acquisition of the social media company ended a months-long saga.

Since the acquisition, Musk has been quick to put his stamp on Twitter, which he had mocked for months for being slow to roll out product changes or delete spam accounts.

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According to two sources familiar with the matter, his teams began meeting with some employees to examine Twitter’s software code and understand how aspects of the platform worked.

Some employees who spoke to Reuters said they received little communication from Musk or other executives and used news reports to find out what was going on at the company.

(Reporting by Chavi Mehta in Bengaluru, Sheila Dang in Dallas and Sayantani Ghosh in San Francisco Editing by Devika Syamnath and Matthew Lewis) ‘Chief Twit’: Elon Musk Says He’ll Become Twitter CEO – National

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