Billionaire Elon Musk, the new owner of "Twitter," announced on Friday, October 28, 2022, the formation of a "Content Oversight Board" for the platform; to evaluate future publishing policies, and it will also study the reinstatement of banned accounts.

Musk tweeted: "Twitter will form a Content Oversight Board with highly diverse viewpoints. No major decisions regarding content or account reinstatements will be made before this board meets."

Elon Musk had previously said he would lift the ban imposed by Twitter on former U.S. President Donald Trump after the acquisition deal is completed.

Firing Senior Executives

American billionaire Elon Musk completed the acquisition of Twitter for $44 billion late Thursday evening, October 27, 2022, issuing his first orders to dismiss a large number of senior executives whom he accused of misleading him about the number of spam accounts.

In his first comment on completing the acquisition, the richest man in the world said he did not buy Twitter to make more money but "to try to help humanity, which I love," while tweeting on his Twitter account: "The bird is freed."

Sources familiar with Reuters reported that Musk dismissed Twitter CEO Parag Agrawal, CFO Ned Segal, and Chief Legal and Policy Officer Vijaya Gadde. He had accused them of misleading him and Twitter investors about the number of fake accounts on the social media platform.

The sources added that Agrawal and Segal were at Twitter's San Francisco headquarters at the completion of the deal and were escorted out of the premises.

It is noted that Musk, CEO of Tesla electric car manufacturer, had said he wants to "defeat" spam bots on Twitter, make the algorithms that determine how content is presented to users public, and prevent the platform from becoming a place for imposing hateful and divisive views, while at the same time limiting censorship.

However, Musk did not disclose details on how he would achieve all this or who would run the company. He had said he plans to cut jobs at the company, raising concerns among Twitter’s approximately 7,500 employees about their future.