Billionaire Elon Musk tweeted on Friday that he has hired Linda Yaccarino as the new CEO of Twitter (now known as X Corp.) and will move to the roles of executive chair and chief technology officer in approximately six weeks.

It's a huge development for (NASDAQ: TSLA) shareholders, who have seen Musk straddle leadership roles in Twitter, Tesla, and SpaceX simultaneously since buying the social media platform late last year.

The timing couldn't be much better, with Tesla pursuing several incremental projects that could change the long-term trajectory of the stock. Here are three potential impacts of Musk's decision and what it means for Tesla investors.

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Source Fool.com