Elon Musk cuts Twitter CEOs’ salaries, criticizes tweets 2022-04-29 04:44:17


Eccentric billionaire Elon Musk plans to strip Twitter’s board of directors, cut executives’ pay, and make money from regular tweets, according to Reuters. Musk made promises to banks before they helped them support his $44 billion acquisition of the social media platform on April 21. Sources from Reuters say these promises are more visionary than solid, but they were enough to secure $13 billion in loans and $12.5 billion. He’ll get the rest of Twitter’s expensive price tag out of his own pocket. Musk previously tweeted that the pay cut would save the company about $3 million annually. Musk will take ownership of Twitter in late 2022 if the deal is completed.

Read it in Reuters