I’m the captain now: Musk chops Twitter board, becomes sole director
Crypto-friendly billionaire Elon Musk has change into the only director of Twitter, following the dissolution of 9 former board members, in line with newly filed paperwork.
In an SEC filing dated Oct. 27, the “consummation” of Musk’s takeover of Twitter got here with the dissolution of Twitter’s board members, together with Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li and Mimi Alemayehou.
“On October 27, 2022, and on account of the consummation of the Merger, Mr. Musk grew to become the only director of Twitter,” the submitting reads.
The Tesla CEO later tweeted in a response to a Twitter person that the association was “simply short-term.”
Beforehand, Musk has stated the platform beneath his possession will concentrate on free speech, eliminating spam bots and faux accounts, an edit perform and probably even crypto funds.
Within the days because the Tesla CEO assumed possession of Twitter, Musk has been busy offering updates on what his new platform might deliver to the desk.
He has already floated the thought of a month-to-month $19.99 fee to get the blue tick verification and bringing again Twitter’s defunct short-form video service Vines, which noticed 69% of 5 million voters in favor of its comeback in a web based poll.
The entire verification course of is being revamped proper now
— Elon Musk (@elonmusk) October 30, 2022
In the meantime, Musk has additionally declared the formation of a “content material moderation council” aimed toward guaranteeing free speech on the platform and contemplating reversing bans on sure Twitter accounts, equivalent to that of former United States president Donald Trump.
A crypto pockets is rumored to be in improvement as effectively, however Musk has not made any feedback about whether or not that is true.
After all, the takeover has additionally seen CEO Parag Agrawal, chief monetary officer Ned Segal and head of authorized and coverage Vijaya Gadde all ousted from their government roles for allegedly deceptive Musk in regards to the variety of spam and faux accounts on the platform.
Associated: Binance wired $500M to again Musk’s Twitter takeover — CZ
In the meantime, Twitter co-founder Jack Dorsey, who left Twitter’s board in Could and supported Musk’s buy, seems to have doubled down on his stance by rolling over his stake of over 18 million shares, price round $975 million on the buyout value of $54.20, into the brand new non-public firm, according to a submitting with the SEC dated Oct. 27.
The platform is a well-liked communication software for crypto fanatics with roughly 120,000 tweets per day about #Bitcoin alone, according to BitInfoCharts.
Musk modified his Twitter bio to “Chief of Twit.” The identical day, he visited Twitter’s San Francisco-based workplace carrying a sink.
On Oct. 31, he modified his bio once more to “Twitter Criticism Hotline Operator” and, at one person’s suggestion, made his profile image what seems to be him answering the cellphone as a baby.
