News

Elon Musk Just FIRED The Twitter Board!

Elon Musk Takes Twitter Private, Reshaping Leadership and Ownership Structure

In a landmark move, Elon Musk has officially taken Twitter private, dismissing the entire board of directors as part of his acquisition. The outgoing board, led by Brett Taylor, confirmed the deal via a tweet, marking the end of a contentious process that saw Musk critique their management and strategies.

Musk had been vocal about his opposition to the board’s “poison pill” strategy, designed to prevent his takeover by diluting his stake if it exceeded 14.9%. Musk described the strategy as a self-serving move that disregarded shareholders’ interests, further fueling his determination to restructure the company.

As part of the acquisition, Jack Dorsey, Twitter’s co-founder and former CEO, is set to receive an estimated payout of nearly $1 billion. Dorsey’s inclusion in the new board is a strong possibility, signaling a potential return to influence under Musk’s leadership.

Musk has announced plans to eliminate board salaries, a decision he claims will save approximately $3 million annually. He argued that the previous board members had largely passive roles, and his focus will be on creating a more streamlined, active leadership team.

While the future of Twitter’s current CEO, Parag Agrawal, remains uncertain, Musk has hinted that he may retain his position, depending on the direction of the company under its new management.

The acquisition also brings substantial payouts for major stakeholders, including the Vanguard Group and Kingdom Holding Company. The Vanguard Group is expected to receive approximately $4.5 billion, underscoring the significant financial shifts involved in the transition.

Musk’s vision for Twitter’s future includes a focus on innovation, transparency, and maximizing the platform’s potential as a global town square. As the company transitions into private ownership, the changes under Musk’s leadership are likely to redefine its operations and role in the tech industry.

Related Posts

Elon Musk’s fortune far surpasses double that of Bill Gates, as Tesla’s latest move sends shockwaves through the world, leaving rivals far behind in the billionaire rankings

Elon Musk’s wealth has surged to unprecedented heights, eclipsing the fortunes of other tech titans like Bill Gates by a staggering margin. Tesla’s recent unveiling of a groundbreaking…

Jeff Bezos and Lauren Sanchez wrap up three-day Venice wedding extravaganza

It’s been both the most public and secretive wedding of the year. Jeff Bezos and Lauren Sanchez concluded their three-day-long Venetian extravaganza on Saturday evening with a celebration…

BREAKING: Utah becomes the first U.S. state to ban Pride flags in both public schools and government buildings

A las 3:00 de la mañana del lunes 30 de junio de 2025, hora de Vietnam, una noticia impactante sacude el panorama político y social de Estados Unidos….

“SHOCKING TURN OF EVENTS: NBC’s Peter Alexander Faces Unbelievable Aftermath of Heated Confrontation with Karoline Leavitt—What Happened Next Was Something He Never Expected!”

Fox News’ Karoliпe Leavitt Stυпs Reporters with Fiery Exchaпge Dυriпg White Hoυse Briefiпg: A Tυrпiпg Poiпt iп Political Discoυrse Iп aп υпexpected aпd fiery momeпt at the White…

5 minutes ago: TV REBELLION? Roseanne Barr announces collaboration with Michael Richards on a controversial new sitcom. Michael Richards’ 7-word response leaves fans stunned: “We will take over…”

Los Angeles, CA – June 21, 2025 – Comedy legends Roseanne Barr and Michael Richards have sent shockwaves through Hollywood with the announcement of their new sitcom, Back to…

Angel Reese BREAKS SILENCE After Being Ranked Among WNBA’s WORST — Then ERASED from 2025 All-Star Ballot Without Warning

The backlash is booming – and Wnba is in a state of crisis. After Brittney Griner returned to the afterlife accusing the use of insults against Caitlin Clark,…

Leave a Reply

Your email address will not be published. Required fields are marked *