Musk Fires Twitter¡¯s Board Of Directors, Becomes Platform¡¯s Sole Director
Elon Musk Fires Twitter's Board of Directors to Become Sole Member
Just last week, Elon Musk fired Twitter¡¯s former CEO Parag Agarwal and Chief Financial Officer, Ned Segal. And now, according to new SEC filings yesterday, the world¡¯s richest man has also gone ahead and fired Twitter¡¯s entire board.
Reuters
According to the filings, Musk today has become the sole director of the microblogging platform.
Musk however revealed later on Monday that the move will only be temporary, however, he hasn¡¯t shed light on what he intends to do going forward.
However, he has revealed some major overhauls the platform is going to get, with the first one coming to the verified badge.
Yesterday, reports revealed that Musk is pondering the idea of charging users a certain monthly fee to get the verified badge. ¡°The whole verification process is being revamped right now,¡± said Musk while responding to a user who was seeking help to get verified.
The whole verification process is being revamped right now
— Elon Musk (@elonmusk) October 30, 2022
Another SEC filing revealed that Saudi Prince Alwaleed bin Talal had become Twitter¡¯s second-largest shareholder.
According to Chris Murphy, a Democratic senator from Connecticut, this poses a national security threat and has requested the Committee on Foreign Investment to examine the national security implications of Saudi Arabia¡¯s investment in the platform.
We should be concerned that the Saudis, who have a clear interest in repressing political speech and impacting U.S. politics, are now the second-largest owner of a major social media platform.
— Chris Murphy (@ChrisMurphyCT) October 31, 2022
There is a clear national security issue at stake and CFIUS should do a review.
Murphy tweeted, ¡°We should be concerned that the Saudis, who have a clear interest in repressing political speech and impacting US politics, are now the second-largest owner of a major social media platform. There is a clear national security issue at stake and CFIUS should do a review.¡±
It¡¯ll be interesting to see what other major changes come along the way for the beloved microblogging platform.
