Elon Musk became the owner of Twitter Inc. late Thursday, when the $44 billion deal to acquire the company officially closed, marking a new era for one of the world’s largest social media platforms. One of Musk’s first moves as owner was to fire several longtime Twitter executives, writes The Washington Post with reference to its sources.
CEO Parag Agrawal, CFO Ned Segal and Vijaya Gadde, legal affairs and policy chief, were fired, these people said. It was reported that Sean Edgett, the company’s chief legal officer, was also fired. Top managers were rushed out of the company’s headquarters in San Francisco.
Musk’s actions immediately after the deal closed signaled his intention to take a firm stand on Twitter. The businessman publicly criticized the company’s fired management for product and content moderation decisions, and said he would renew former President Donald Trump’s account.
With all that, “That said, Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!” Musk tweeted Thursday, assuring advertisers of a bright future ahead.
After completing the deal, Musk wrote: “The bird is freed”:
the bird is freed
— Elon Musk (@elonmusk) October 28, 2022
The completion of Twitter’s purchase ended a months-long US saga in which the billionaire and world’s richest man launched a hostile takeover bid to gain control of the company at an inflated price. But then he himself refused the deal, entered into a fierce legal battle with the social network and was eventually forced to buy it.
However, in the final days before the deal closed, Musk even seemed enthusiastic about his future ownership. He unexpectedly appeared at the company office carrying a sink, according to a photo Musk posted to his more than 100 million Twitter followers.
The new owner will hold a general corporate meeting today. On the same day, Twitter will become a private company, dissolving its current board of directors and ceasing public trading of its shares.