Read at TechCrunch
Elon Musk purchased Twitter in October 2022 and changed its name to X. He had originally announced his bid to buy the platform in April 2022, motivated by the goal of eliminating spam bots and ensuring free speech. Musk's strong belief in the importance of a trusted and inclusive public platform led him to make the offer, despite not caring about the economics of the deal. However, he later tried to kill the deal, claiming that Twitter had more bots than disclosed in its public filings. After a tumultuous legal process, Musk was forced to seal the deal, and in October, he became the owner of X.
"This is just my strong, intuitive sense that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization," Musk said at a TED conference on the day he made his offer. "I don't care about the economics at all."
Since Musk's acquisition of Twitter and its rebranding to X, significant changes have taken place. The platform has experienced verification chaos, API access shakeups, ban reversals, and layoffs. Musk has transitioned from being the CEO to serving as the executive chair and CTO of X. In May 2023, it was announced that Linda Yaccarino would become the next X CEO. Yaccarino, who previously held the position of chairman of Global Advertising & Partnerships at NBCU, will be taking over from Musk as the leader of X as it enters its second year of ownership.
Musk also transitioned from his role as Twitter/X CEO to serving as its executive chair and CTO. It was announced on May 12 that Linda Yaccarino will step in as the next X CEO. Yaccarino left her role as chairman of Global Advertising & Partnerships at NBCU.