Tesla boss Elon Musk mentioned on Monday he’ll function chief government of Twitter, the social media firm he simply purchased for $44 billion (roughly Rs. 3,63,700 crore), a transfer that Wall Street analysts have mentioned might stretch the billionaire skinny.

Musk, who additionally runs rocket firm SpaceX, brain-chip startup Neuralink and tunneling agency the Boring Company, fired Twitter’s earlier chief Parag Agrawal and different prime firm officers final week, and has proposed revisions to the platform’s person verification course of, which has been free till now.

Responding to a tweet from writer Stephen King that he wouldn’t be keen to pay $20 (roughly Rs. 1,700) a month to maintain the verified badge on Twitter, Musk replied: “How about $8?”

The billionaire mentioned that introducing a value was the one strategy to defeat trolls and bots on the platform and that Twitter couldn’t fully depend on advertisers to pay its payments.

Musk introduced his Twitter CEO function in a securities submitting. In one other submitting on Monday, Musk revealed that he grew to become the only real director of Twitter on account of the takeover.

Musk had beforehand modified his Twitter bio to “Chief Twit” in an allusion to his deliberate transfer. Twitter on Monday declined to touch upon how lengthy Musk would possibly stay CEO or appoint another person.

“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 mentioned within the submitting.

Shortly afterward, Musk tweeted that the transfer to dissolve the board “is just temporary,” with out elaborating.

Replying to a tweeted query on what was “most messed up at Twitter”, Musk tweeted on Sunday that “there seem to be 10 people “managing” for every one person coding.”

On Monday, Nick Caldwell, a normal supervisor at Twitter’s Core Technologies indicated on his Twitter bio that he was now not with the corporate. Caldwell and Twitter didn’t reply to Reuters’ request for remark outdoors common enterprise hours.

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

His groups started assembly with some staff to research Twitter’s software program code and perceive how features of the platform labored, in accordance with two sources aware of the matter.

Some employees who spoke with Reuters mentioned that they had obtained little communication from Musk or different leaders and have been utilizing information stories to piece collectively what was taking place on the firm.

Tesla’s inventory has misplaced a 3rd of its worth since Musk made a suggestion to purchase Twitter in April, in contrast with a 12 p.c decline within the benchmark S&P 500 index in the identical interval.

© Thomson Reuters 2022