February 9, 2023

At his other companies, including electric car maker Tesla and rocket maker SpaceX, Mr. Musk has sometimes appointed a key adviser to run the business in his absence. At SpaceX, that task falls to Gwynne Shotwell, president and chief operating officer.

At Twitter, Mr Musk has opted to run the company himself. He has borrowed employees from his other companies, including Tesla and the tunneling startup Boring Company, to join him. Steve Davis, president of the Boring Company, has led several cost-cutting initiatives at Twitter. Musk rotated several people to provide him with legal and financial advice, including former Tesla board member and investor Antonio Gracias and his personal lawyer Alex Spiro ( Alex Spiro).

Mr. Musk is also relying on employees at Tesla and SpaceX to handle technical issues, as layoffs and resignations have crippled Twitter’s engineering workforce. While at least one Tesla board member said he thought the automaker’s employees would only be briefly deployed on Twitter, Mr. Musk continued to use them, including Sheen, a Tesla engineer who has been leading Twitter’s infrastructure organization. Austin.

Some of Mr. Musk’s advisers have lobbied to lead Twitter. On Sunday, Mr Musk’s Twitter investor Jason Calacanis ask his own followers On the platform, if he or venture capitalist David Sachs should be Twitter’s CEO, or share the position.

Mr Musk, who watched the World Cup final in Qatar this weekend with Jared Kushner, is also seeking new investments in Twitter. After he sold $3.6 billion worth of Tesla stock last week, his finance team, led by the head of his family office, Jared Birchall, sent electronic mail to potential investors, said a person not authorized to speak publicly. mail.

The emails sent to potential backers invited them to invest in the $54.20 share price that Mr. Musk paid for the company when he bought it, the person said. But Musk has since said publicly that he paid more than twice what Twitter was worth.Potential fundraising was reported earlier signal.

Musk continues to aggressively cut Twitter’s costs. The company began a new round of layoffs Friday night, according to four people familiar with the matter reviewed by The New York Times. About 50 employees were cut, mainly from the company’s infrastructure division, the people said. It was unclear how other sectors were affected.

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