Elon Musk Takes Control Of Twitter In $44bn Deal, Fires Top Executives
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The world’s richest man, Elon Musk, has taken control of Twitter in a $44bn deal and fired its top executives afterwards. This put Elon Musk in charge of one of the world’s most influential social media platforms.
After his acquisition of Twitter, Musk tweeted “the bird is freed”, alluding to company’s iconic logo. He later said “let the good times roll”.
He also did not waste time in firing the Chief Executive Officer, Parag Agrawal, as well as the company’s chief financial officer, Ned Sagan, and its head of safety.
The deal’s closing removes a cloud of uncertainty that has hung over Twitter’s business, employees and shareholders for much of the year.
After initially agreeing to buy the company in April, Musk spent months attempting to get out of the deal, first citing concerns about the number of bots on the platform and later allegations raised by a company whistleblower.
Musk has said he plans to rethink Twitter’s content moderation policies in service of a more maximalist approach to “free speech.”
The billionaire also said he disagrees with Twitter’s practice of permanent bans for those who repeatedly violate its rules, raising the possibility that a number of previously banned, controversial users could reemerge on the platform.
Earlier this week, Musk visited Twitter’s San Francisco headquarters to meet with employees. 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.”
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