It is estimated that the staff reductions ordered by Musk in the past will mainly focus on tasks related to legal matters, security and moderation.
Billionaire Elon Musk has fired Twitter’s entire board, according to documents filed with the US Securities and Exchange Commission (SEC). Musk has thus become the sole head of Twitter.
The documents also reveal that the company’s second largest shareholder is a businessman belonging to the royal family of Saudi Arabia Al-Walid ibn Talal.
Musk had previously given the departure passes to the CEO To Parag Agrawal and to several other company managers and gave the order to prepare large personnel reductions.
The reductions ordered by Musk, who has declared himself a “freedom of speech absolutist”, are estimated to be aimed especially at tasks related to legal matters, security and moderation.
Musk has previously announced his intention to withdraw the company from the stock exchange. Twitter filed a delisting application last Friday morning local time, and trading in Twitter shares was suspended on the New York Stock Exchange.
Musk made his initial offer in April, but in July he announced that he was withdrawing the offer. He argued with Twitter, for example, about the number of fake and bot accounts on the service and whether the company had falsified the information it provided.
Twitter filed a lawsuit over the cancellation of the deals, and the matter was going to court. In the end, Musk said he was ready to buy the company at the price of his original offer, i.e. $44 billion, if the lawsuit was dropped.
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