Elon Musk dissolves Twitter’s board of directors

Following the completion of his $44 billion purchase of the social media platform and the dissolution of its corporate board, Elon Musk has been named sole director of Twitter, according to documents filed with the US Securities and Exchange Commission. (SEC) on Monday.

According to the records, the “consummation of the merger” occurred on October 27. Musk became the sole director of Twitter,” and the entire board, including CEO Parag Agrawal, was fired.

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

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

But as the October trial date approached, Musk resurrected the deal in early October, finally finalizing the intermittent acquisition last week at $54.20 a share.

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

Prior to the acquisition, Musk had criticized the move to ban Trump from the public sphere. Musk told the Financial Times in May: “I think it was a mistake because it alienated a significant part of the country and ultimately it didn’t result in Donald Trump not having a voice.”

“Blocking Trump from Twitter did not silence Trump. It’s morally wrong and downright stupid, as it will make you more prominent among the right.

Musk reportedly collaborated with Tesla’s software experts over the weekend to examine the social media giant’s inner workings after changing his Twitter bio to “Chief Twit” and planning major layoffs.

Musk plans to “remove permanent restrictions on users because he doesn’t believe in eternal bans,” citing a person “close to the situation.”

See also  6 reasons why you should invest in a cloud-based intranet?

He announced the creation of a content moderation council in an effort to assuage the fears of advertisers, Twitter’s main source of revenue, by promising that the site will not become a “free-for-all hell.”

Despite widespread rumors that Trump could return to his 89 million Twitter followers, the former president declared Friday that he would continue to use Truth Social, his alternative social network that debuted earlier this year.

Trump told Fox News: “I’ll take Truth.” “I like it better and I enjoy how it works. Although I like Elon, I prefer Truth.

Meanwhile, news broke on Sunday that Twitter would start charging users $19.99 USD each month to keep its blue checkmarks. Musk tweeted on Sunday that “the entire authentication procedure is being rebuilt at this time.”

According to The Verge, the company intends to increase the price of its optional premium subscription called Twitter Blue from $4.99 per month to $19.99 per month and add verification as part of the package.

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

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

Another Twitter document filed with the SEC indicates that Saudi Prince Al-Waleed Bin Talal has risen to the position of second largest shareholder. The businessman eventually chipped in the nearly 35 million shares he already held after originally rejecting Musk’s offer as too low compared to Twitter’s “intrinsic value.”

Al-Waleed posted an announcement about the transfer of his shares on Twitter last Friday and signed it, “Dear Friend ‘Boss Twit’ @elonmusk.”

See also  Why opt for custom Shopify app development for your eCommerce business?

With a handshake emoji, he added: “Together until the end.”

If you’re interested

You can also read articles related to entertainment, numerology, technology and health here: Halloween 2022, iOS 16.1 Features, Netflix November 2022 Schedule, Virat Kohli Net Worth, Reaper 2 Trello, JoinPD, Seasonal Holidays , SQM Club, The Crown season 5, Motorola Moto Edge 30 Ultra review, Mismatched season 2 Netflix release date, Solar eclipse 2022, Best movies on Star Plus, Best free VR games in 2022, Xbox Game Pass October 2022, Riverdale Season 7, NASA To Create 3D Printed Moonbase, Human Robot Optimus, Andrew Tate Net Worth, Dua Lipa Net Worth, Disney Plus October 2022 Calendar, 24th Birthday from Google, OnePlus 10R review, OnePlus 9RT review, Netflix October 2022 calendar,

Summer Podcasts on Movistar, Best Cycling Simulator Games, MyShopify, Ben Affleck Net Worth, Filmymeet, 5Movies, 8th September Zodiac, Kengan Ashura Season 3, iPhone 14 Plus Release Date, High School Season 5 DxD, How Gautam Adani Became The 3rd Richest Man In The World, Jeezy Net Worth, Historical Series On HBO Max, F2Movies, Best Travel Movies Of All Time, Vikings Season 7, How To Watch The Casting Attempt by Artemis I, Best Cookware for Home Cooks, Zodiac for September 2, Hubble’s Law and Age of the Universe, New Movies on Disney Plus September 2022, Amazon Prime Release Date September 2022, Steps to a Look Casual, Daredevil Season 4, Tinyzone, Elon Musk The Mother Sleeps In The Garage, Lady Gaga All Movies, Virgo,

TikTok spies on you, Thank you in Spanish, Openload, Invention of antibiotics, Subnautica, Knives Out 2, Best basketball anime, 13 regions for astronauts to land on the moon, Red Bottom Shoes, StoriesDown, Meaningful learning, E-learning 2022 , She-Hulk Release Date, Overlord Season 5, Samsung Galaxy Z Fold 4 Review, Feogi, Laal Singh Chaddha Review, Baki Season 5, Bflix, Leonardo DiCaprio Sneakers, Hurawatch, Salman Rushdie,

In addition to the above articles, you can read more

Accessibility Apps for Android, Best Jobs in the Metaverse, QueenslandMax, Shower Handle, August 11 Zodiac, How to Pass a Drug Test, How to Roll a Joint, iFun, Emerald Chat, How to Play Mancala, August 8 Zodiac August, OnePlus 10T Review, Jilo Virals, August 4th Zodiac, Findsnap, Tomb Raider Anime, Netflix August 2022 Calendar, Animixplay, Upcoming Marvel Movies 2022, July 31st Zodiac, Lily Collins Best Movies, Notepadqq, Flaxseeds with Milk Benefits, Imginn, Snaptik, Picuki, Alexis clark net worth, black panther 2,

See also  Your guide to buying clothes online

Marvel Echo Release Date, Frozen Fruit Recipes, Black Tourmaline, Webtoon XYZ, Fastest VPN For Android, IFVOD, XXXX Dry Review, Highest Grossing Indian Movies Of All Time, Highest Grossing Movies Of All Time Times, Rush Limbaugh Net Worth. Gotham Season 7, Parag Agrawal Net Worth, Tara Reid Net Worth, Blonde Trailer, Fastest VPN For PC, India’s Highest Paid CEO 2022, Highest Paid Athletes 2022, My5 TV Activate, Kissmanga, Highest Paid CEO of 2022, Grey’s Anatomy Season 19, Alexa.com Alternatives, The Resident Season 6, Kraven The Hunter, One Punch Man Season 3, The Resident Season 5, Yellowstone Season 5, Ozark Season 4 Part 2, How to remove bookmarks on Mac,

Outer Banks Season 4, How to Watch NFL Games for Free, DesireMovies, 6streams, 4Anime, Moviesflix, 123MKV, MasterAnime, Buffstreams, GoMovies, VIPLeague, How to Play Music on Discord, Vampires Diaries Season 9, Homeland Season 9, Brent Rivera Net Worth , PDFDrive, SmallPDF, Knightfall Season 3, Crackstream, Kung Fu Panda 4, Angel Number 1616, Angel Number 333, Angel Number 666, Angel Number 777, Angel Number 444, Bruno Mars Net Worth, KissAnime, Courage Jim Carrey net, Bollyshare, Afdah, Prabhas Wife Name, Project Free TV, Kissasian, Kickassanime, Moviezwap, Jio Rockers, Dramacool, M4uHD, Hip Dips, M4ufree, Fiverr English Test Answers, Fiverr SEO Skill Test, NBAstreamsXYZ, Highest Paid CEO , The 100 season 8, and F95Zone.

Thank you for reading. Stay tuned!

Subscribe to our latest newsletter

To read our exclusive content, sign up now. $5/month, $50/year

Categories: Technology
Source: vtt.edu.vn

Leave a Comment