Elon Musk continues Twitter shake-up with new hire

Elon Musk has continued his shake-up of Twitter by hiring NBCUniversal executive Joe Benarroch.

The billionaire businessman has overhauled the micro-blogging platform since acquiring the company for $44 billion in 2022, and Musk has now added Benarroch to Twitter's top team.

Benarroch - who will be focused on business operations in his new role - wrote on LinkedIn: "I am looking forward to bringing my experience to Twitter, and to working with the entire team to build Twitter 2.0 together."

The appointment has already been welcomed by Linda Yaccarino, who was recently named as Twitter's new chief executive.

Responding to the announcement, she said: "Welcome to the flock @benarroch_joe! From one bird to the next. (sic)"

Despite this, an asset manager recently claimed that Twitter's value has sunk by almost two-thirds since Musk acquired the company.

Fidelity - which held a stake in Twitter worth around $20 million after Musk bought the platform - claimed in a corporate filing that its shareholding is now worth just under $6.6 million.

Fidelity now values the social media platform at around $14.75 billion in total - even though Musk acquired the company for more than double that amount less than 12 months ago.

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