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Musk says he’s Twitter CEO, now runs five firms
STORY: Elon Musk now runs five firms. The billionaire said Monday (October 31) that he had made himself CEO of Twitter – the social network he just bought for $44 billion.Musk already ran Tesla, rocket firm SpaceX, brain chip startup Neuralink, and tunnelling firm The Boring Company. He had already fired former Twitter boss Parag Agrawal and other top executives. Now he’s also dissolved the board and is the sole director of the company. Twitter declined to say how long Musk would stay CEO, or whether he planned to find a new chief. The man himself said in a Tweet that dissolution of the board was just a temporary move, but didn’t elaborate further. Musk has moved fast to put his stamp on the company. He has said he’ll review how users are verified, and may charge for use of the coveted blue tick awarded to some users. His teams have also been meeting with employees to investigate Twitter’s software and figure out how it works. Though some staff said they’d had little communication from Musk, and were using news reports to piece together what was happening. Analysts fear running five firms could prove too much though. Tesla stock is down around a third since Musk first said he planned to buy Twitter. That’s far worse than the benchmark S&P 500 index.
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