# Elon Musk, who runs four other companies, will now be Twitter CEO Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-11-01 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Elon Musk named Twitter CEO, analysts wary of $44 billion Meta Description: Elon Musk, CEO of Tesla, SpaceX, Neuralink, and the Boring Company, takes on the role of chief executive at Twitter, making significant changes to the platform. URL: https://financedigest.com/elon-musk-who-runs-four-other-companies-will-now-be-twitter-ceohtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-11-01t044802z3lynxmpei9u0ukrtroptp4twitter-m-a-musk-1736814939268-compressed.jpg) [(Reuters)](https://www.financedigest.com/uk-retail-sales-rise-by-0-8-in-october-ons.html) -Tesla Inc boss Elon Musk said on Monday he will serve as chief executive of Twitter, the social media company he just bought for $44 billion, a move that Wall Street analysts have said could stretch the billionaire thin. Musk, who also runs rocket company SpaceX, brain-chip startup Neuralink and tunneling firm the Boring Company, fired Twitter’s previous chief Parag Agrawal and other top company officials last week, and has proposed revisions to the platform’s user verification process, which has been free until now. Responding to a tweet from author Stephen King that he would not be willing to pay $20 a month to keep the verified badge on Twitter, Musk replied: “How about $8?” The billionaire said that introducing a price was the only way to defeat trolls and bots on the [platform and that Twitter](https://www.financedigest.com/twitter-social-platforms-could-see-spike-in-election-misinformation.html "Twitter, social platforms could see spike in election misinformation") could not entirely rely on advertisers to pay its bills. Musk announced his Twitter [CEO role](https://www.financedigest.com/amazon-ceo-says-job-cuts-to-exceed-18000-roles.html "Amazon CEO says job cuts to exceed 18,000 roles") in a securities filing. In another filing on Monday, [Musk revealed that he became the sole director of Twitter](https://www.financedigest.com/elon-musk-plans-to-cut-half-of-twitter-jobs-bloomberg-news.html "Elon Musk plans to cut half of Twitter jobs – Bloomberg News") as a result of the takeover. [Musk had previously changed his Twitter](https://www.financedigest.com/musk-secures-46-5-billion-in-funding-for-twitter-bid.html "Musk secures .5 billion in funding for Twitter bid") bio to “Chief Twit” in an allusion to his planned move. Twitter on Monday declined to comment on how long Musk might remain [CEO or appoint](https://www.financedigest.com/cavai-appoints-mats-persson-as-ceo.html "Cavai appoints Mats Persson as CEO") someone else. “The following persons, who were directors of Twitter prior to the effective time of the merger, are no longer directors of Twitter: Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li and Mimi Alemayehou,” Musk said in the filing. Shortly afterward, [Musk tweeted that the move to dissolve the board](https://www.financedigest.com/elon-musk-drops-plans-to-join-twitter-board-deletes-weekend-tweets.html "Elon Musk drops plans to join Twitter board, deletes weekend tweets") “is just temporary,” without elaborating. Replying to a tweeted question on what was “most messed up at Twitter”, Musk tweeted on Sunday that “there seem to be 10 [people “managing”](https://www.financedigest.com/anyone-can-write-assignment-need-people-able-apply-new-skills-workplace-says-top-investment-management-company.html "“Anyone can write an assignment, but we need people to be able to apply their new skills to the workplace,” says top investment management company") for every one person coding. On Monday, Nick Caldwell, a general [manager at Twitter’s Core Technologies](https://www.financedigest.com/how-ai-driven-technology-can-make-expense-management-faster-smarter-and-easier.html "How AI-driven technology can make expense management faster, smarter and easier") indicated on his Twitter bio that he was no longer with the company. Caldwell and Twitter did not [respond to Reuters’ request for comment outside regular business](https://www.financedigest.com/pitiless-machines-will-kill-your-business-if-you-dont-respond-now-warns-servion.html "‘Pitiless machines’ will kill your business if you don’t respond now, warns Servion") hours. Since the takeover, which concluded last week, Musk has moved quickly to put his stamp on Twitter, which he had ridiculed for months for being slow to [introduce product changes or take down spam accounts](https://www.financedigest.com/twitter-to-introduce-official-label-for-some-verified-accounts.html "Twitter to introduce ‘Official’ label for some verified accounts"). His teams began meeting with some employees to investigate Twitter’s software [code and understand how aspects of the platform](https://www.financedigest.com/unlocking-the-code-how-to-benefit-from-low-code-platforms.html "Unlocking the code – How to benefit from low code platforms") worked, according to two sources familiar with the matter. Some staff who spoke with Reuters said they had received little communication from Musk or other [leaders and were using news reports to piece together](https://www.financedigest.com/real-time-connect-nyc-where-adtech-leaders-come-together-to-redefine-data-strategies.html "Real-Time Connect (NYC): Where AdTech leaders come together to redefine data strategies") what was happening at the company. Tesla’s stock has lost a third of its value since Musk made an [offer to buy](https://www.financedigest.com/mfe-offers-to-buy-1-05-stake-in-mediaset-espana-from-vivendi-ahead-of-delisting.html "MFE offers to buy 1.05% stake in Mediaset Espana from Vivendi ahead of delisting") Twitter in April, compared with a 12% decline in the benchmark S&P 500 index in the same period. (Reporting by Chavi Mehta in Bengaluru, Sheila Dang in Dallas and Sayantani Ghosh in [San Francisco; Additional reporting by Shivani Tanna and Mrinmay Dey in Bengaluru; Editing by Muralikumar Anantharaman and Stephen Coates)](https://www.financedigest.com/paul-jasper-joins-rimon-laws-san-francisco-office-as-partner.html "Paul Jasper joins Rimon Law’s San Francisco Office as Partner") --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---