The billionaire is said to have appointed himself chief executive officer, dismissed senior management and immediately began reshaping strategy. Musk, 51, who also leads Tesla Inc. and SpaceX, may eventually cede the CEO role in the longer term, a person familiar with the matter said. Twitter representatives declined to comment.
US stocks: US market closes down sharply after Fed holds rates unchanged
Wall Street experienced a sharp decline as the Federal Reserve maintained interest rates. AI-related chip stocks also saw further losses ahead of key earnings reports.