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Elon Musk, who runs four other companies, will now be Twitter CEO

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Tesla Inc boss Elon Musk said on Monday he will serve as chief executive of Twitter, the social media company he just bought for $44bn (R802bn), 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.

Musk announced his Twitter CEO role in a securities filing. In another filing on Monday, Musk revealed that he became the sole director of Twitter as a result of the takeover. Shortly afterward, Musk tweeted that the move to dissolve the board"is just temporary," without elaborating. 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.

 

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