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Billionaire Elon Musk dissolved Twitter’s board of directors on Monday, becoming the sole leader of the social network. The Tesla boss recently acquired the social network for $44 billion.
Elon Musk wasted no time in taking control of the social network where he is followed by more than 112 million people. The billionaire said Monday, October 31, that he would become the new CEO of Twitter, recently acquired for 44 billion dollars.
The boss of Tesla and SpaceX dissolved, earlier in the day, the board of directors of Twitter, thanking its nine members, according to official documents submitted to the American market authority, the SEC, by the group on Monday. Californian.
He finalized, last Thursday, the takeover of the social network, before dismissing several of its leaders, including Parag Agrawal, then general manager. Since then, he describes himself on his Twitter profile as “Chief Twit”.
His new venture has also offered to buy back all outstanding Twitter-issued bonds, according to the SEC filing.
The work of Twitter employees examined
The takeover deal took six months to complete, after several U-turns by Elon Musk, acrimonious exchanges with Parag Agrawal and other executives, and the launching of lawsuits by Twitter that nearly resulted in a resounding lawsuit mid-October.
The whimsical leader has new ambitions for the social network. He brought in Tesla engineers to examine the work of Twitter employees and made layoffs.
Elon Musk tried to reassure advertisers, the group’s main source of income, by assuring them that Twitter would not become “hellish” and by announcing the upcoming formation of a “content moderation council”. At the same time, he promised users that people who had been “suspended for minor or questionable reasons” would be “released from Twitter prison”.
With AFP and Reuters