Elon Musk Plans to Cut Twitter Executive Pay and Make Money Off Regular Tweets
Musk also floated the idea of job cuts to improve the company's financial performance.
Musk also floated the idea of job cuts to improve the company's financial performance.
"I trust his mission to extend the light of consciousness,” Dorsey tweeted.
The board appears to have been swayed by Musk's ability to line up financing for the deal.
Musk suggested he may offer to buy out shareholders en masse.
Twitter may flood the market with new shares or allow shareholders to buy more at a discount.
Musk in an SEC filing offered to buy the company for over $50 a share.
"Elon shared that same morning that he will no longer be joining the board," said CEO Parag Agrawal.
Musk bought 9.2% of the company, but he's barred from buying more than 15%.
The firm attacked TikTok for trends that actually originated on Facebook.
The site went down for 13 hours this week as users still can't sign in.