Elon Musk has named former Morgan Stanley banker Anthony Armstrong as the new finance chief of his AI group, xAI, and social media platform, X.
According to a Financial Times report on Monday, October 6, Musk, in the latest shake-up of his executives after becoming the world’s first half-trillionaire, appointed Armstrong as the new CFO of xAI.
As per the report, the financer will lead the financial operation of both xAI and X (formerly Twitter) since Musk merged both of the companies in March this year, making a combined group worth $113 billion.
Armstrong, who was the key advisor in the Twitter takeover, became the top aide of the Tesla boss in recent years. They even worked together during Musk’s time at the Department of Government Efficiency.
As per one of the sources, the veteran dealmaker has been working with Musk’s artificial intelligence company for some time and has been formally appointed as the CFO of the group in recent days, replacing Mike Liberatore.
Neither Musk nor Armstrong has formally announced the appointment; however, the former Morgan Stanley banker has changed his X account profile photo to an xAI logo by his name.
Armstrong, who as Morgan Stanley’s global head of tech M&A worked closely with Musk on the $44 billion Twitter acquisition in 2022, will lead the social media platform X to financial recovery following the departure of several advertisers due to relaxed content moderation rules.