Twitter’s new owner, Elon Musk, has fired Twitter’s board of directors, giving him complete control of the social media company as the Sole Director. Musk acquired Twitter in October for $44 billion.
Musk has stated that his position as sole director will be temporary. His tenure as the company’s owner began on Thursday, when the billionaire fired some of the company’s top executives, including Chief Executive Parag Agrawal and Chief Financial Officer Ned Segal.
Furthermore, according to a Securities and Exchange Commission report, Saudi Arabia’s Prince Alwaleed Bin Talal has become the company’s second largest shareholder.
This has raised some concerns in the United States. Chris Murphy, a Democrat from Connecticut, stated that he would request that the Foreign Investment Committee investigate the national security implications of Saudi Arabia’s investment in the social media company.
Musk, a proponent of free speech, has created a divide between those who support free speech and the vulnerable victims of online harm. It is unclear what specific plans he has for the company at this time, but he is expected to reduce the workforce and ease moderation.
Although Musk has admitted that Twitter cannot be a “free-for-all hellscape,” he has emphasised the importance of a “common digital town square” where a diverse range of viewpoints can be expressed and debated.