Elon Musk takes sole control of Twitter

Quick Take

  • Musk becomes sole director after exiting personnel following his purchase of Twitter.

Elon Musk is in charge. He became the sole director of Twitter after all other directors were kicked to the curb following his purchase of the social media giant.

Effective at the time of Musk’s takeover, former directors let go included Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li and Mimi Alemayehou, according to a filing with the U.S. Securities and Exchange Commission detailing terms of the material agreement for the $44 billion deal.

Musk, who notably attempted to back out of the deal before it was finalized, received $500 million in partial funding from Binance.

A number of large advertisers including Ford and GM reportedly said they will pause advertising as they assess the direction Twitter takes under Musk.

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