Elon Musk to take over as Twitter CEO and Reverse Life Bans

Elon Musk is all set to assume the role of the chief executive officer at Twitter Inc after completing his $44 billion acquisition. 

Soon after his appointment, Musk’s first move was to fire the social media company's top leadership which he accused of misleading him over the number of spam accounts on the platform.

The billionaire is expected to remain CEO in the interim but may eventually cede the role in the longer term, the person added. Twitter representatives declined to comment.

The momentum for the takeover was being built by the technocrat last week when several media reports suggested that Musk was planning to trim the headcount by a staggering  75% of Twitter’s staff after acquiring the popular social media platform. 

The claim was, however, dispelled almost as quickly by Edgett in an announcement.

In an open letter to Twitter advertisers on Thursday, possibly aimed at easing concerns that might hit the platform's revenue base, Musk said that much speculation about why he bought Twitter and what he thinks about advertising has been wrong.

Musk said he didn’t buy Twitter to make more money. “I did it to try to help humanity, whom I love. And I do so with humility, recognising that failure in pursuing this goal, despite our best efforts, is a very real possibility,” he wrote.

“Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise. To everyone who has partnered with us, I thank you. Let us build something extraordinary together,” he concluded.

Only time will tell what is in store for the world’s most popular micro-blogging site.