Elon Musk has fired Twitter’s board of directors and given himself full control of the company.
According to documents filed with the US Securities and Exchange Commission on Monday, Musk has become the “sole director” of Twitter.
The richest man in the world bought the social media company for a whopping $44 billion through a combination of his own fortune, mutual funds and bank loans.
Twitter board fired
The documents state that the “completion of the merger” took place on October 27, at which time “Mr. Musk became the sole director of Twitter,” while the entire board, including CEO Parag Agrawal, was fired.
South Africa-born Musk first offered to buy the company for $54.20 a share in April, shortly after becoming the company’s largest shareholder, but said in July he would withdraw over concerns about the number of Go out of business bots on the platform.
Blue tick confirmation
Meanwhile, after changing his Twitter bio to “Chief Twit,” Musk also worked over the weekend with software engineers at Tesla, who were reportedly trying to monetize Twitter’s identity verification feature, according to AFP. This feature gives certain users a precious blue tick next to their profile.
ALSO READ: New Twitter Boss Elon Musk Wants You to Pay for Your Blue Tick
musk wants verified twitter users to pay $20 (R365) per month or lose their blue tick verified status.
While the official details of the new verification process remain unclear, The edge reported that the company will soon start charging users for the blue tick.
Users would have to subscribe to Twitter Blue for $4.99 (91R) a month or lose their “verified” badges as the project progresses, the report said.
Currently only available in the US, Canada, Australia and New Zealand, Twitter Blue’s launch struggled with niche appeal and limited features.
Not many were happy paying for the infamous blue tick, including bestselling author Stephen King.
“$20 a month to keep my blue check? Screw it, they should pay me. If that rolls out I’ll be gone like Enron,” King tweeted.
However, Elon Musk offered to give King a discount.
“We have to pay the bills somehow! Twitter cannot rely entirely on advertisers. How about $8? I will explain the reasoning in a longer form before this is implemented. This is the only way to defeat bots and trolls,” Musk tweeted.
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