January 27, 2023

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Official: Elon Musk takes over Twitter, sacks high executives

Elon Musk

Enterprise Billionaire Elon Musk has formally taken over Twitter and reportedly fired a number of high executives after a fraught $44bn deal was lastly secured.

The Tesla chief tweeted that “the chicken is freed” referencing the corporate’s iconic brand after lastly closing the deal following months of authorized wrangling.

As the corporate handed into the arms of the Tesla chief, Twitter’s former CEO Parag Agrawal and CFO Ned Segal had been fired, sources claimed.

Musk has additionally fired the pinnacle of authorized coverage, belief, and security Vijaya Gadde and Sean Edgett, who belongs to the corporate’s common counsel, inside sources informed The Washington Publish.

Following the takeover, the billionaire modified his Twitter bio to “Chief Twit.”

Agrawal beforehand went to court docket to carry Musk to the phrases of a deal he had tried to flee.

The takeover got here hours earlier than the court-appointed deadline for Musk to seal his on-again, off-again deal to buy the social media community.

Musk had beforehand defined the explanations he needed to take over Twitter.

“The rationale I acquired Twitter is as a result of it is very important the way forward for civilization to have a standard digital city sq., the place a variety of beliefs could be debated in a wholesome method, with out resorting to violence,” he stated.

“I didn’t do it as a result of it will be simple. I didn’t do it to make more cash.

“I did it to try to assist humanity, whom I really like. And I achieve this with humility, recognizing that failure in pursuing this purpose, regardless of our greatest efforts, is a really actual risk.”

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In the meantime, the platform’s co-founder Biz Stone thanked Agrawal, Ned Segal and Vijaya Gadde for his or her “collective contribution to Twitter.”

“Large skills, all, and delightful people every.”

It was additionally revealed early Friday that Musk reportedly plans to imagine the function of Twitter CEO whereas nonetheless main Tesla and SpaceX, in keeping with Bloomberg.

The information outlet indicated, citing a supply, that “life bans” from the platform may be reversed.Commercial

This comes as the general public has been given a sneak peek into Twitter’s headquarters as Musk was swarmed by staff and colleagues.

The billionaire unexpectedly confirmed up on the workplace on Wednesday whereas carrying a sink, suggesting that his impending possession is one thing that wanted to “sink in.”

On Thursday, American writer Walter Isaacson snapped a photograph contained in the Twitter headquarters’ espresso bar exhibiting Musk talking to a crowd of individuals.

The closure of the deal comes after an extended back-and-forth between the billionaire and the platform.Commercial

Musk supplied to purchase the corporate earlier this April however he then tried to again out of the deal.

The SpaceX CEO cited points with privateness and claimed that Twitter was mendacity concerning the variety of bots and spam accounts lively on the platform- allegations which have been rejected by Twitter.

In response, Twitter sued Musk on July 12 in an effort to pressure the merger to undergo and argued that Musk violated his dedication to purchase the corporate.

A couple of months later, the Delaware court docket system obtained concerned and a decide marked Friday because the deadline to finalize the deal.

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However it seems that Musk modified his thoughts and signalled the deal was again in.

Musk additionally beforehand vowed to reverse former President Donald Trump’s Twitter ban after changing into the social media platform’s new head honcho.

Musk stated that barring the forty fifth president from the social media platform was a “mistake” that “alienated a lot of the nation.”