Leaders.com
  • Login
  • Subscribe
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
  • Login
  • Subscribe
Business Elon Musk warns Twitter employees of “difficult times ahead” and issues stern warning to stop remote work

Elon Musk warns Twitter employees of “difficult times ahead” and issues stern warning to stop remote work (DAVID MCNEW/AFP via Getty Images)

By Savannah Young Leaders Staff

Savannah Young

Savannah Young

News Writer

Savannah Young is a news writer for Leaders Media. Previously, she was a digital reporter for WATE Channel 6 (ABC)...

Full bio


Learn about our editorial policy

Oct 31, 2022

The One Musketeer

Elon Musk has been making his mark on Twitter the past few days and has now been named sole director.

Key Details

  • Elon Musk officially took ownership of Twitter this past week and is now officially the sole director of the social-media company.
  • After agreeing to complete the $44 billion deal and completing the acquisition, Musk fired everyone on the Twitter board and has been named the sole director.
  • It was alleged that Musk quickly fired everyone to avoid a big payout, but he has denied those claims.
  • He claims to be “chief twit” but not CEO.

Why it’s news

Elon Musk’s acquisition of Twitter has not been an easy one as there have been many twists and turns in the journey for him to become the director of the company.

Musk officially completed his huge deal to buy the social media company this past weekend and has been quickly making his mark on the platform . The biggest mark—becoming the sole director.

After acquiring Twitter Musk fired multiple people within the company citing his reasoning being that the employees misled him and Twitter investors over the number of spam bots and fake accounts on the platform.

Musk has fired the entire Twitter board that has been attached to the company throughout the entire company buyout thus making him the sole director of the company.

Twitter said in a security filing that the nine board members are no longer with the company and that Musk has always had intentions of being the sole director.

Backing up a Bit

The full timeline between Elon Musk and Twitter is long.

It all started in April, Elon Musk announced that he held a 9.2% stake in Twitter, which made him the social-media company’s largest shareholder. Twitter’s stock price soared 25% after the announcement.

Later that month, the billionaire entrepreneur offered to buy all of Twitter at $54.20 per share—equaling about $44 billion. He said he originally invested in the platform because he believes it is failing in its potential to be the leading platform for free speech around the globe. In fact, he asked his 2 million followers if Twitter adhered to principles of free speech, and 70% said “no.” 

In July, Musk decided to back out of the deal, claiming there were too many fake accounts on the platform. Twitter has since sued Musk in Delaware Court of Chancery to complete the deal and requested the trial to take place in September. Musk, on the other hand, wanted to delay the trial until February 2023, stating that a case of this size takes time to prepare. Twitter was granted its wish of an expedited trial, with Chancellor Kathaleen McCormick, the presiding judge, setting a five-day trial for October. 

Musk then countersued Twitter, stating his reason for the termination was due to Twitter not being upfront about the number of fake accounts on the platform.

Then, Elon Musk and his legal team subpoenaed Twitter’s founder and former CEO Jack Dorsey, to get him to release documents that provide accurate information on bots and spam accounts on the social-media platform and now these documents have come out from Zatko and Musk and his lawyers have subpoenaed him as well. 

Then, Musk’s text messages were revealed in court filings and it showed that Twitter co-founder Jack Dorsey tried to facilitate Musk’s Twitter takeover, which led to Musk officially reverting back to his original deal to buy the social-media company.

Chancellor Kathaleen St. Jude McCormick set a trial date and ordered the case would proceed  if Musk did not close the deal by October 28, which led to Musk officially accepting the deal.

Home / News / The One Musketeer
Share
FacebookTweetEmailLinkedIn

Related Stories

Senate And House Battle Over Debt-Ceiling Bill

by Hannah Bryan Leaders Staff
Public Policy

5 hours ago

debt ceiling

The U.S. Senate has announced hearings for committees to analyze the debt-ceiling bill passed by the Republican-led House last week. 

Key Details

  • Though the White House has stood firm in its refusal to negotiate the debt-ceiling terms with House Speaker Kevin McCarthy (R-CA), the House passed a bill last week to jumpstart negotiations. 
  • Senate Majority Leader Chuch Schumer (D-NY) announced Monday that Senate committees would evaluate the recently passed bill.
  • While McCarthy’s bill attempts to bring President Joe Biden to the table, the bill is unlikely to pass in the Senate. 
  •  "The president says, 'I'm not going to talk to him until he offers a plan,’" McCarthy says. "Not only did we offer a plan, we passed it.”

Go deeper

FacebookTweetEmailLinkedIn

Gen Z Is Changing Workplace Habits

by Hannah Bryan Leaders Staff
Company Culture

8 hours ago

working late

Remote work has opened the door for many changing workplace traditions, including changing the nine-to-five workday. 

Key Details

  • Hard workers and early risers are often associated with one another, but a recent study shows that most Gen Z employees prefer to begin their work at 6 p.m.
  • In an Adobe study that sampled workers in the UK, U.S., and Japan, younger workers were found to be more productive in the evenings, Fortune reports. 
  • These younger employees prefer to work through the night and spend their downtime during the daylight hours. 
  • Only 6% of Boomers reported being productive from 6 p.m. to 3 p.m. compared to 26% of Gen Zers. 

Go deeper

FacebookTweetEmailLinkedIn

Phoenix Suns Shift From Traditional Broadcasting 

by Tyler Hummel Leaders Staff
Entertainment

8 hours ago

The owner of the Phoenix Suns and Phoenix Mercury is striking out on his own—shifting away from traditional broadcasting deals. 

Key Details

  • The bankruptcy of Diamond Sports Group in March has resulted in numerous sports teams attempting to void their streaming contracts. 
  • Two Phoenix, Arizona-based teams are making a similar attempt, shaking their traditional local streaming contract with Bally Sports Arizona to seek new opportunities. 
  • Both teams announced on Friday that games will be broadcast on over-the-air local television in Phoenix, Tucson, and Yuma and that free broadcasts will be made available through streaming. 
  • Diamond has argued that the announcement is a breach of contract for the sports teams, while ESPN is warning that the decision could cost tens of millions of dollars in the short term for the teams. 
  • The team owner believes the change will “more than triple the reach” of their audience. 

Go deeper

FacebookTweetEmailLinkedIn
Markets

9 hours ago

Dimon Says: (Part Of) the Banking Crisis Is Over 

by Tyler Hummel Leaders Staff
right to repair
Business

10 hours ago

Farmers Still Struggle To Fix John Deeres

by Hannah Bryan Leaders Staff
amazon ads
Business

12 hours ago

Amazon’s A-To-Z Adage Does Include Ads

by Hannah Bryan Leaders Staff

Recent Articles

Personal Growth

14 hours ago

How Adaptability Can Make or Break Your Career in the Coming Years

The business world is always changing, making adaptability a necessary skill.

Wealth

Apr 27, 2023

How to Make an Extra $1000 a Month Starting With Only $100 

You can make an extra $1000 per month with a small upfront investment or a part-time job.

Leadership

Apr 26, 2023

Narcissists in the Workplace: Signs Your Coworker or Boss Might Be One of Them

Narcissistic bosses do whatever it takes to gain success and power.

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2023 Leaders.com - All rights reserved.

Search Leaders.com

x