Elon Musk’s leadership. After he bought the social media giant, he bought out the other directors and became the company’s only director.
According to a filing with the U.S. Securities and Exchange Commission detailing terms of the material agreement for the $44 billion deal, former directors Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li, and Mimi Alemayehou were terminated effective at the time of Musk’s takeover.
Binance provided partial finance of $500 million to Musk, who famously tried to back out of the transaction before it was signed.
Large advertisers like Ford and GM have reportedly declared they will halt advertising on Twitter until they can determine the company’s future under Musk’s leadership.
