a Tesla head Elon muskin a statement released on Monday (31) that he will also be CEO of Twitterwhat or what Bought by a billionaire last Thursday (27) for $44 billion.
Musk, who also runs rocket company SpaceX, chip startup Neuralink and infrastructure company Boring Company, fired former Twitter chief Parag Agrawal and other senior company officials last week.
Tesla shares have lost a third of their value since Musk made a bid to buy Twitter in April, compared to a 12% drop in the benchmark S&P 500 over the same period.
Musk previously changed his Twitter bio to “Chief Twit” in reference to his planned plan.
Twitter declined to comment on how long Musk could remain CEO or appoint someone else to the position.
In another document published on Monday, Musk revealed that he became the sole manager of Twitter as a result of the acquisition.
“The following persons were no longer called Twitter directors prior to the effective date of the merger as Twitter directors: Brett Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lynn Fox, Patrick Pechet, Egon Durban, Phi Phi Lee and Mimi Al Miho,” Musk said in the document.
Shortly thereafter, Musk wrote on Twitter that the decision to dissolve the board was “only temporary,” without going into details.
Last week, Musk’s acquisition of the social network ended with $44 billion epic months.
Since the acquisition, Musk has moved quickly to position his Twitter brand, which the billionaire has derided for months for being slow to make product changes or delete spam accounts.
Their teams have begun meeting with some employees to investigate Twitter’s software code and understand how the platform works, according to two sources familiar with the matter.
Some of the employees who spoke to Reuters said they had received few calls from Musk or other leaders and were using the reports to understand what was happening at the company.
Charlotte Whitmore is a contributor at Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and practical information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the UK and beyond.