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He only took over a few weeks ago—but Elon Musk is already planning to hand over the reins at Twitter.
The billionaire told a Delaware court on Wednesday that he will reduce the amount of time he spends managing the firm after an initial period of reorganising.
Musk reportedly said: "There's an initial burst of activity needed post-acquisition to reorganize the company. But then I expect to reduce my time at Twitter."
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He also tweeted: "I will continue to run Twitter until it is in a strong place, which will take some time."
Musk's comments make it clear that he sees his disruptive takeover of the company as the start of a necessary transition towards a successful 'Twitter 2.0'.
However, he may also be trying to calm investors at SpaceX and Tesla, amid concerns that he isn't spending enough time working at the two other companies he's currently CEO of.
So far, he has sacked almost half of Twitter's workforce to get there and issued an ultimatum to remaining staff that they must agree to work 'long hours at high intensity'.
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Musk added: "Only exceptional performance will constitute a passing grade."
Musk took over Twitter at the end of October following months of back-and-forth between himself and its former owners.
He has immediately shaken up the social media platform by introducing a new paid-for Twitter Blue verification service, before being forced to suspend it after a deluge of accounts impersonated politicians and major companies. Musk also immediately fired Twitter CEO Parag Agrawal and CFO Ned Segal after taking over the firm.
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