Elon Musk has completed his Twitter takeover, immediately firing some top executives.
Eko Hot Blog reports that the Tesla and Space X CEO, Elon Musk, has completed his $44 billion deal to buy the social media giant, Twitter.
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The takeover puts the world’s richest man in charge of one of the world’s most influential social media platforms.
According to US media reports, Musk immediately fired CEO Parag Agrawal, CFO Ned Segal, and policy head Vijaya Gadde, after completing his takeover.
Although Twitter is yet to confirm the billionaire’s takeover, he appeared to confirmed the completion of the deal early Friday morning in a tweet.
“The bird is freed,” Musk tweeted in an apparent reference to Twitter’s logo.
the bird is freed
— Elon Musk (@elonmusk) October 28, 2022
Earlier this week, he visited the company’s headquarters to meet with employees, tweeting a video of himself walking into the premises carrying a kitchen sink with the caption: “let that sink in!”
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
He also posted an open letter to Twitter advertisers, saying he doesn’t want the platform to become a “free-for-all-hellscape where anything can be said with no consequences.”
“I didn’t [buy Twitter] to make money. I did it to try to help humanity, whom I love,” the new Twitter owner tweeted on Thursday.
Dear Twitter Advertisers pic.twitter.com/GMwHmInPAS
— Elon Musk (@elonmusk) October 27, 2022
The billionaire has said he plans to rethink Twitter’s content moderation policies in favour of a more relaxed approach to “free speech.”
Musk has also said he disagrees with the platform’s practice of permanent bans for those who repeatedly violate its rules, opening the door to restoring a number of previously banned users, including former US President, Donald Trump.
The Tesla boss had first reached the agreement to buy Twitter in April but by mid-May, he had begun to change his mind about the purchase, citing concerns that the number of fake accounts on the platform was higher than the company claimed.
In July, he said he no longer wished to acquire the company.
Twitter, however, argued the billionaire was legally committed to the acquisition and eventually filed a lawsuit to hold him to the deal.
In early October, Musk revived his takeover plans for the company on condition that legal proceedings were paused.
FURTHER READING
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Twitter Sues Elon Musk For Pulling Out Of $44bn Takeover Deal
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Twitter Shareholders Endorse $44bn Musk Deal
Eko Hot Blog had reported that a judge fixed an October 28 deadline for the parties to complete the deal and they’ve now completed it in time.
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