Elon Musk dissolves Twitter’s board and makes himself ‘sole director’
IndependentNov 24, 2022
The Facts
According to a Monday filing with the US Securities and Exchange Commission (SEC), Elon Musk has fired Twitter's entire board of directors, making himself its sole director.
The dismissal of the nine-member board — which comes less than a week after Musk finalized his $44B takeover — includes chairman Bret Taylor and former Google CFO Patrick Pichette.
The Spin
Right narrative
Musk's acquisition is a real opportunity for Twitter to become free of biased censorship. With the billionaire entrepreneur at the helm, he can retain the general code of conduct to fight deceitful foreign influences while also allowing the marketplace of ideas to flourish, freeing it from nefarious "fact checkers."
Left narrative
While billionaires like Elon Musk may have the money to buy and influence social media platforms, they don't possess the character to manage them properly. Musk's Twitter history reveals an erratic personality with the potential to vastly alter the market with a single tweet simply to advance his own interest. With Twitter set to have no barriers to what can or cannot be said, the app is looking like a disaster waiting to happen.
Narrative C
The real concern regarding Twitter's workings is the Saudi Prince's financial stake in the company. Owning over 16% of the platform gives the authoritarian leader access to sensitive user data, which could have serious personal and national security implications. An investigation must be opened.