The world has kept a keen eye on the Twitter staff catalogue, waiting to see if any heads would fall in consequence to Elon Musk taking over. According to recent reports, that might as well happen pretty soon, since Elon Musk might already have a new CEO lined up for the app.
According to a Reuters report, Elon had conveyed a profound distrust in the company’s current management to Chairman Bret Taylor, and has already decided on a replacement for current CEO Parag Agrawal. Proposed Names were not revealed bas yet.
It’s not all sad news for Agrawal though, as the current CEO has a provision for a hefty severance compensation worth $38.7 Mn in his contact. Agrawal had earlier expressed concerns regarding the platform’s uncertain future in a candid meeting with Twitter staff.
As it turns out, arranging $44 Bn is no small feat even for the world’s richest man. It was earlier reported in SEC filings that Musk had liquidated $4 Bn by selling Tesla Motors Stock. In a bid to gain trust of the banks financing Musk’s acquisition, Elon has revealed the first few steps he intends to take to incorporate his vision into the platform. While Musk has been an advocate of Twitter’s separation from ad revenue model, he plans to monetize tweets getting high user engagement or containing important information.
Musk also plans to put in place a small fee for all third-party websites that place embedded tweets (Notice how there aren’t any embedded tweets on this page?). Further, Musk has plans to pay influencers and content creators on the platform. This idea could seem a little vague, since twitter is a largely text-only platform and content creation is very minimal, if any.
It remains to be seen whether Musk’s plans come to fruition, but if his track record has anything to say for it, they are surely a safe bet. It will also be interesting to see if any more heads roll in Musk’s quest to achieve a trustworthy management for Twitter.
