Everything we know about Elon Musk's new CFO of xAI group Anthony Armstrong

Elon Musk has appointed a new CFO of xAI – here’s all we know about the banker, Anthony Armstrong.

Billionaire Musk has appointed a new Chief Financial Officer who, according to the Financial Times (FT), will oversee the financial operations of both xAI and social media platform X/Twitter.

Anthony Armstrong is a former Morgan Stanley banker who also advised Musk on his now-infamous acquisition of Twitter in October 2022, which he later rebranded as “X”.

He was global head of tech mergers and acquisitions at Morgan Stanley and was part of the team that managed the $44 billion purchase of the social media platform.

While Musk was in Washington working at the Department of Government Efficiency (DOGE), Armstrong reportedly helped Musk oversee the Office of Personnel Management.

According to the FT, the group merges Musk’s AI company and X/Twitter and is something the billionaire did in March. It has a combined value of $113 billion.

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Armstrong is seen as one of Musk’s closest advisors and aides. His appointment as CFO comes amid a slew of leadership changes in and a wave of senior departures in recent times. These include the departure of X/Twitter CEO, Linda Yaccarino, as well as xAI’s previous CFO, Mike Liberatore, who left after just three months in the role and now works at rival AI company OpenAI.

Sources close to the matter claim Musk and Armstrong had been working together at xAI for several weeks before his official appointment was announced.

Armstrong faces challenges in making X/Twitter financially stable again after a wave of advertisers left the platform in protest of Musk’s content standards, with accusations that the billionaire has overseen an increase in hate speech and misinformation since taking over.

At the time, Musk told advertisers part of the exodus to “go f**k” themselves.

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