Elon Musk, who runs 4 different corporations, will now be Twitter CEO By Reuters

(Reuters) -Tesla Inc boss Elon Musk stated in a submitting on Monday he’ll function chief government of Twitter, the social media firm he simply purchased for $44 billion, a transfer that Wall Avenue analysts have stated might stretch the billionaire skinny.

Musk, who additionally runs rocket firm SpaceX, brain-chip startup Neuralink and tunneling agency the Boring Firm, fired Twitter’s earlier chief, Parag Agrawal, and different prime firm officers final week.

Tesla (NASDAQ:)’s inventory has misplaced a 3rd of its worth since Musk made a suggestion to purchase Twitter in April, in contrast with a 12% decline within the benchmark in the identical interval.

Musk had beforehand modified his Twitter bio to “Chief Twit” in an allusion to his deliberate transfer.

Twitter on Monday declined touch upon how lengthy Musk would possibly stay CEO or appoint another person.

In one other submitting on Monday, Musk revealed that he turned the only director of Twitter because of the takeover.

“The next individuals, who have been administrators of Twitter previous to the efficient time of the merger, are now not administrators of Twitter: Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li and Mimi Alemayehou,” Musk stated within the submitting.

Shortly afterward, Musk tweeted that the transfer to dissolve the board “is simply short-term,” with out elaborating.

Final week, Musk’s takeover of the social media firm for $44 billion concluded a months-long saga.

Because the takeover Musk has moved rapidly to place his stamp on Twitter, which he had ridiculed for months for being sluggish to introduce product modifications or take down spam accounts.

His groups started assembly with some workers to research Twitter’s software program code and perceive how points of the platform labored, based on two sources aware of the matter.

Some employees who spoke with Reuters stated they’d obtained little communication from Musk or different leaders and have been utilizing information studies to piece collectively what was occurring on the firm.