Elon Musk Closes $44 Billion Twitter Acquisition, Fires Top Executives
October 28, 2022
Elon Musk, the world’s richest man and founder/owner of electric vehicle manufacturer Tesla, has reportedly closed his controversial $44 billion acquisition of Twitter, one of the world’s largest social media platforms.
“The bird is freed,” Musk tweeted late Oct. 27.
Musk, who had an Oct. 28 deadline to close the deal (or face litigation) that would return Twitter to private ownership, reportedly fired the San Francisco-based company’s CEO Parag Agrawal; CFO Ned Segal; Vijaya Gadde, the platform’s main legal policy executive; and general counsel Sean Edgett.
Gadde is reportedly best known for pushing the executive decision to permanently ban former President Donald Trump from Twitter.
It wasn’t immediately clear who is formally running the company, but Musk has changed his moniker to “Chief Twit,” leaving little doubt who is in charge.
In a tweet to advertisers, Musk said he purchased the platform to provide “a common digital town square where a wide range of beliefs can be debated in a healthy manner without resorting to violence.”
Musk warned that Twitter cannot become a “free-for-all hellscape, where anything can be said without consequences!”
The billionaire is expected to hold a company town hall today addressing Twitter’s 7,700 global workforce.
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