Elon Musk, the founder, CEO and CTO of SpaceX, co-founder of Tesla Motors, and chairman of SolarCity, has taken over Twitter. firing executives like CEO Parag Agrawal and replaced him with himself.
Elon Musk took over Twitter , firing the CEO and appointing himself as the new head of the company. The move came as a surprise to many, but it seems that Musk is determined to make Twitter a success. He has already made some changes to the way the site operates, and he is sure to have more in store for the future. Only time will tell if Musk can turn Twitter around, but one thing is for sure: he is not afraid to take risks.
According to documents and conversations derived by Washington Post last week, Musk intends to fire about 75% of Twitter employees when he assumes leadership. This is consistent with Musk’s tense relationship with Twitter and his harsh criticism of the social media platform’s content moderation guidelines. Musk has also previously accused Twitter’s staff of having a “strong left wing bias” (although Musk reportedly informed Twitter staff on Wednesday that the 75% figure is untrue).
Trump insists he won’t re-join and would instead stay on his new Truth Social website, but Musk stated in May he planned to reinstate the former president’s Twitter account, which the social media platform disabled in January 2021 “because to the potential of future instigation of violence.” In the past, Musk has also supported Kanye West, referring to the musician as his “friend” until Twitter suspended West earlier this month for making threats of violence against Jews.
A judge may have ordered Musk to purchase Twitter if he had not completed the transaction by the court-imposed deadline of Friday. When he updated his Twitter bio to “Chief Twit” and released a video of himself at the company’s offices on Wednesday, Musk appeared to signal the transaction would go through. The New York Stock Exchange also delayed Twitter trading on Friday in anticipation of the transaction closing. In April, Twitter accepted Elon Musk’s unsolicited offer to buy the firm, valuing it at $54.20 per share, or nearly a 30% premium.
Some people are saying that this is just another one of Musk’s publicity stunts, but others believe that he might actually be serious this time. Only time will tell what will happen with Twitter under Musk’s leadership.
You may also like, How Is AI Transforming the Recruitment Structure?