Musk Breaks Up Twitter’s Board of Directors as New Owner
(LibertySociety.com) – On October 31, the new owner of Twitter, Elon Musk, made a move to break apart his company’s board of directors. The action filed with the SEC made the billionaire the only director within the entity. Among those dismissed were several high-ranking executives. When Musk finally closed his $44-billion deal to buy the platform on October 27, he hit the ground running, immediately making changes. After the purchase was complete, the new owner tweeted, “the bird is freed.”
Elon Musk has fired Twitter’s board of directors, giving himself unfettered control over the social media giant.
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— Al Jazeera English (@AJEnglish) November 1, 2022
About a week before the acquisition, there were reports Musk planned to “gut Twitter” by eliminating most of its workforce. So far, he started with the most senior employees, and the latest estimates say the total firings will be more conservative, at 25%.
The Tesla CEO vowed to bring free speech back to the platform but declared there wouldn’t be a “free-for-all hellscape” without consequences. Bloomberg News reported Musk wants management to review Twitter’s existing “hateful conduct policy” for tweaks.
The billionaire is also floating the idea of a subscription service called Twitter Blue stating, “we need to pay the bills somehow.” Musk plans to launch the new initiative this month.
What do you think is next for the social media site?
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