Elon Musk attends the historic Exposition park in downtown LA for a trance music event

Elon Musk was spotted mingling with festival goers at a trance music event in downtown Los Angeles.

The billionaire was seen watching Mladen Solomun, a Bosnian-German DJ, with a crowd of 10,000.

The DJ played a five-hour set from 7 p.m. to midnight on Saturday night, with fans spotted dancing late into the night.

Musk is known to be a fan of EDM, having written and released a track himself in January 2020 titled “Don’t Doubt Your Vibe.”

This came days after he announced that NBCUniversal’s Linda Yaccarino would take over as CEO of Twitter.

Last week the Twitter boss rrevealed how he hired her to succeed him as CEO of the social media network.

Musk, who bought Twitter in October 2022, tweeted: “Excited to announce that I have a new CEO for X/Twitter. She will be starting in ~6 weeks!

“My role will transition to Executive Chairman and CTO (Chief Technology Officer), overseeing products, software and sysops.”

Newly appointed CEO Linda Yaccarino said in a tweet on Saturday that she was inspired by owner Elon Musk’s vision to create a better future and was excited to help transform the social media platform.

It was the first time Yaccarino had spoken publicly since announcing Thursday that she was in talks to become Twitter’s next CEO.

Musk, who has served as CEO since its $44 billion takeover of Twitter last October, announced his appointment on Friday.

“I have long been inspired by [Musk’s] vision to create a better future. I’m excited to help bring this vision to Twitter and transform this company together! Yaccarino tweeted.

Yaccarino, who as head of advertising for Comcast Corp’s NBCUniversal spent several years modernizing its advertising business, said she was committed to the future of Twitter and said user feedback was key to building Twitter 2.0.

Yaccarino will take over a social media platform that is trying to reverse falling ad revenue and is facing challenges, as well as heavy debt.

Since Musk acquired Twitter, advertisers have fled the platform, fearing their ads would appear alongside inappropriate content after the company lost nearly 80% of its staff. Earlier this year, Musk acknowledged that Twitter suffered a massive drop in ad revenue.

While Musk said Yaccarino would help create an “everything app,” which he said could offer a variety of services like peer-to-peer payments, his selection of an advertising veteran indicated that digital ads would continue. to be a central objective. of the company.

Musk has long said he intends to find a new leader for Twitter.

Musk, who is also the CEO of Space X and electric vehicle maker Tesla, said Friday that appointing Yaccarino as the new head of Twitter would help him spend more time with Tesla.

Immediately after the announcement, Tesla shares jumped more than 2%, a sign that investors were happy with the move.

When Musk took over Twitter on October 28, he immediately made his mark – but his tenure was not without controversy.

Changes such as subscribing to Twitter Blue and bringing previously banned users back to the platform have met with widespread backlash.

He also laid off thousands of company employees in a bid to drastically cut costs.

He attempted to expand the site’s subscription feature to supplement his advertising revenue.

However, Twitter appeared to partially reverse its new model by reinstating some legacy accounts, including LeBron James and William Shatner.

Under the new system, users would have to pay a monthly fee of $8 to have their account verified – and receive the site’s blue signature.

Previously, the site assigned a verified account to notable figures such as politicians, celebrities, and journalists.

Musk’s announcement came months after he pledged in December to step down as head of Twitter as soon as he found someone “dumb enough to take the job.”