Search
Close this search box.
Search
Close this search box.

Elon Musk Dissolves Twitter’s Board of Directors

Elon Musk Secretly Working On AI Project

Following the completion of his $44 billion purchase of the social media platform and the dissolution of its corporate board, Elon Musk has been appointed as Twitter’s sole director, according to paperwork submitted to the US Securities and Exchange Commission (SEC) on Monday.

According to the records, the “consummation of the merger” took place on October 27. At that time, “Mr. Musk became the only director of Twitter,” and the whole board, including CEO Parag Agrawal, was fired.

Musk, who is also the CEO of Tesla and SpaceX, said he meant to take Twitter off the public market when he made his initial buyout offer in April. After that, he said, less public disclosures would be necessary.

Twitter filed a lawsuit against Musk in a Delaware court after the erratic billionaire attempted to back out of the agreement.

But as a trial date in October drew near, Musk resurrected the deal in early October, finally finalizing the on-again, off-again takeover last week at $US54.20 per share.

He fired the company’s senior executives as soon as he took over Twitter office, including Mr. Agrawal, Chief Financial Officer Ned Segal, and Head of Legal Policy, Trust and Safety Vijaya Gadde, who had decided to permanently suspend former President Donald Trump from the platform.

Prior to the takeover, Musk had criticized the move to bar Mr. Trump in the public sphere. Musk told the Financial Times in May, “I think that was a mistake because it alienated a significant portion of the country and did not ultimately result in Donald Trump not having a voice.”

“Blocking Trump from Twitter did not silence Trump. It is morally incorrect and downright stupid since it will make it more prominent among the right.

Musk reportedly collaborated with Tesla software experts over the weekend to examine the inner workings of the social media juggernaut after altering his Twitter bio to “Chief Twit” and planned significant layoffs.

Musk plans to “do away with permanent restrictions on users because he doesn’t believe in everlasting prohibitions,” citing a person “close to the situation”.

He announced the creation of a content moderation council in an effort to assuage the fears of advertisers, Twitter’s primary source of income, by promising them that the site will not turn into a “free-for-all hellscape”.

Despite widespread rumors that Mr. Trump might return to his 89 million Twitter followers, the former President stated on Friday that he would continue to use Truth Social, his alternative social media network that debuted at the beginning of this year.

Trump told Fox News, “I’m staying on Truth.” “I like it better, and I enjoy how it functions. Although I like Elon, I’m sticking with Truth.

In the meantime, news broke on Sunday that Twitter would begin charging users $19.99 USD every month to maintain their blue verification checkmarks. Musk tweeted on Sunday that “the entire authentication procedure is being rebuilt right now.”

According to The Verge, the business intends to increase the price of its optional premium subscription called Twitter Blue from $US4.99 per month to $19.99 per month and add verification as part of the package.

After the new Twitter Blue launches, verified users who have already signed up will have 90 days to do so or they will lose their checkmarks, according to the tech website. According to the SEC filing, the new Musk-led company created as a result of the merger agreement has also offered to buy back all of Twitter’s outstanding bonds.

Musk, the richest man in the world, used a combination of his own money, money from other investment organizations, and loans from banks that will need to be repaid to finance the enormous acquisition.

Another Twitter document submitted to the SEC indicates that Saudi Prince Al-Waleed Bin Talal has risen to the position of second-largest shareholder. The businessman eventually contributed the almost 35 million shares he already had after originally rejecting Musk’s offer as being too low in comparison to Twitter’s “intrinsic value.” 

Al-Waleed sent an announcement about the rollover of his shares on Twitter last Friday and signed it, “Dear friend ‘Chief Twit’ @elonmusk.”

With a hand-shaking emoji, he added, “Together all the way.”

If you are interested

You can also read EntertainmentNumerologyTech, and Health-related articles here: Halloween 2022, iOS 16.1 Features, Netflix November 2022 Schedule, Virat Kohli Net Worth, Reaper 2 Trello, JoinPDSeasonal HolidaysSQM ClubThe Crown Season 5Motorola Moto Edge 30 Ultra ReviewMismatched Season 2 Netflix Release DateSolar Eclipse 2022Best Movies on Star PlusBest Free VR Games in 2022Xbox Game Pass October 2022Riverdale Season 7NASA to Create a 3D Printed Moon BaseOptimus human robotAndrew Tate Net WorthDua Lipa net worthDisney Plus October 2022 ScheduleGoogle 24th BirthdayOnePlus 10R ReviewOnePlus 9RT ReviewNetflix October 2022 Schedule,

 Summer Podcasts on MovistarBest Cycling Simulator GamesMyShopifyBen Affleck Net WorthFilmymeet5MoviesSeptember 8 ZodiacKengan Ashura Season 3iPhone 14 Plus Release DateHigh School DxD Season 5How Gautam Adani Emerged World’s Third Richest ManJeezy Net WorthHistorical Series on HBO MaxF2MoviesBest Travel Movies of All TimeVikings Season 7How to Watch Artemis I Launch AttemptBest Kitchen Gadgets for Home CooksSeptember 2 ZodiacHubble’s Law and Age of UniverseNew Movies on Disney Plus September 2022Amazon Prime Release Date September 2022, Steps for Casual LookDaredevil Season 4TinyzoneElon Musk Mother sleeps in GarageLady Gaga All moviesVirgo,

Apart from the above articles, you can read more

Accessibility Apps for AndroidBest Jobs in the MetaverseQueenslandMaxShower Standing HandleAugust 11 ZodiacHow to pass a drug testHow to Roll a JointiFunEmerald ChatHow to Play MancalaAugust 8 ZodiacOnePlus 10T ReviewJilo ViralsAugust 4 ZodiacFindsnapTomb Raider AnimeNetflix August 2022 ScheduleAnimixplayUpcoming Marvel Movies 2022July 31 ZodiacBest Lily Collins MoviesNotepadqqFlaxseeds with Milk BenefitsImginnSnaptikPicukiAlexis Clark Net WorthBlack Panther 2,

Marvel Echo Release DateFrozen Fruit RecipesBlack TourmalineWebtoon XYZFastest VPN for AndroidIFVODXXXX Dry ReviewHighest Grossing Indian Movies of all TimeHighest Grossing Movies of All TimeRush Limbaugh net worth. Gotham Season 7Parag Agrawal Net WorthTara Reid Net WorthBlonde TrailerFastest VPN for PCHighest Paid CEO in India 2022Highest paid athletes 2022My5 TV ActivateKissmangaHighest Paid CEO 2022Grey’s Anatomy Season 19Alexa.com AlternativesThe Resident Season 6Kraven The HunterOne Punch Man season 3The Resident Season 5Yellowstone season 5Ozark season 4 part 2How to Remove Bookmarks on Mac

Outer Banks Season 4How to watch NFL games for freeDesireMovies6streams4AnimeMoviesflix123MKVMasterAnimeBuffstreamsGoMoviesVIPLeagueHow to Play Music in Discord,  Vampires Diaries Season 9Homeland Season 9Brent Rivera Net Worth,  PDFDriveSmallPDFKnightfall Season 3CrackstreamKung Fu Panda 41616 Angel Number333 Angel Number666 Angel Number777 Angel Number444 angel number,  Bruno Mars net worthKissAnimeJim Carrey net worthBollyshare,  AfdahPrabhas Wife NameProject Free TVKissasianKickassanimeMoviezwapJio Rockers,  Dramacool,  M4uHDHip DipsM4ufreeFiverr English Test AnswersFiverr SEO Skill Test,  NBAstreamsXYZHighest Paid CEOThe 100 season 8, and F95Zone

Thanks for reading. Stay tuned!


Subscribe to Our Newsletter

Related Articles

Top Trending

Boston event planners
8 Event Planners In Boston Known For Creativity And Elegance
lainey wilson age
Lainey Wilson Age: A Look At The Country Singer's Life, Career, and More
Duke Dennis Age
Duke Dennis Age: Twitch Streamer's Height and Other Details Explored
Most Customizable WordPress Themes for Agencies
10 Most Customizable WordPress Themes for Agencies
WordPress newsletter plugins
10 WordPress Plugins That Help Increase Newsletter Signups

LIFESTYLE

retirement cities in California
10 Best Retirement Cities in California for a Relaxed and Affordable Life
Mother's Day Around The World
Mother’s Day Traditions Around the World: Mother's Day 2025 Special
summer birthday party ideas
Creative Summer Birthday Party Ideas for Kids in 2025
May 6 Zodiac
May 6 Zodiac: Positive Traits, Compatibility and More about Taurus
self storage solutions for life transitions
How Self Storage Can Help During Major Life Changes (Divorce, Moving, etc.)?

Entertainment

lainey wilson age
Lainey Wilson Age: A Look At The Country Singer's Life, Career, and More
Duke Dennis Age
Duke Dennis Age: Twitch Streamer's Height and Other Details Explored
Cannes Naked Dress Ban Red Carpet Fashion
Cannes 2025 Bans Naked Dresses: What It Means for Red Carpet Fashion
big meech net worth
Big Meech Net Worth: Breakdown of The Drug Dealer's Income
BAFTA TV Awards 2025 winners
BAFTA TV Awards 2025 Winners: Full List of Shows, Actors & Moments

GAMING

Gaming and Cognitive Skills
Gaming and Cognitive Skills: The Science Behind How Games Boost Your Brain
Hardest Boss Fights in Gaming
The Hardest Boss Fights in Gaming History (Ranked)
Avoid Getting Tilted in Competitive Gaming
How to Avoid Getting Tilted in Competitive Gaming?
Bingo Games
Are Live Bingo Games Still Popular?
Reduce Input Lag for a Smoother Gaming
How to Reduce Input Lag for a Smoother Gaming Experience?

BUSINESS

Can ADA Continue
Can ADA Continue to a $100 Level?
Eco-Friendly Plumbing Companies That Save Water and Energy
10 Eco-Friendly Plumbing Companies Helping You Save Water and Energy Efficiently
legacy shave net worth
Legacy Shave Net Worth: What Happened After Shark Tank
Crypto Facto Fintechasia Net
Crypto Facto Fintechasia Net: Unveiling The Latest Trends In Fintechasia
best emergency plumbing companies in UK cities
Top 10 Emergency Plumbing Companies in UK Cities for Quick Solutions

TECHNOLOGY

How to Change Snapchat AI Gender
How to Change Snapchat AI Gender: An Easy 5-Step Guide
Promote Your NFT Project
10 Best Ways To Promote Your NFT Project And Gain Visibility
Sensor Technology in New Zealand Farming
How Sensor Technology is Enhancing Farm Efficiency in New Zealand
Best gaming video editing software
How to Edit Gaming Videos Like a Pro: Top Software & Tips?
AI NPCs
The Rise of AI NPCs: Will They Replace Real Players?

HEALTH

Gaming and Cognitive Skills
Gaming and Cognitive Skills: The Science Behind How Games Boost Your Brain
Yimusanfendi
7 Incredible Benefits of Yimusanfendi Meditation and Possible Side Effects
Connection Between Hydration and Urinary Health
The Connection Between Hydration and Urinary Health
Neuralink Brain Implant Patient Regains Speech
Neuralink Brain Implant Helps ALS Patient Regain Speech with AI Support
Wegovy for Weight Loss
Wegovy for Weight Loss: Is It Worth Buying Online?