Elon Musk has fired the CEO and CFO as he completes his obtainment of Twitter on October 27 2022, Thursday. Now, Elon Musk is the 100% shareholder of Twitter Company. More news to follow about purchase is below.
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| Elon Musk Bought Twitter |
Musk decided to buy Twitter for $44 billion last April. But shortly after, Musk reverted on his decision, sparking a legal battle between Twitter and Musk.
Musk put the fight to rest by completing the Twitter purchase agreement a day before the court's deadline.
Elon Musk Decision on CEO and CFO
Musk fired Twitter chief executive Parag Agarwal, chief financial officer Ned Segal and head of legal affairs and policy Vijaya Gadde after accusing him of misleading the number of spam accounts on the platform. It also waved potentially sweeping changes to the board of Twitter, one of the world's most influential social-media platforms.
Musk, who owns Tesla and rocket company Space Exploration Technology Corp., or SpaceX, has become Twitter's largest individual shareholder, adding to his expanding business reach. This deal will again become a private company.
There were signs before this week that Musk was closing in on a deal to buy Twitter. As reported by The Wall Street Journal, banks began transferring money in support of the deal. Musk has also changed his Twitter biography to 'Chief Tweet'. He also visited the social media platform's San Francisco headquarters. He released a statement on Twitter explaining his vision for the point to advertisers.
The deal puts Twitter, one of the world's most prominent social media platforms, under the control of the world's richest man.
A self-proclaimed free-speech absolutist, Musk has promised to limit content moderation in favor of emphasizing free speech. However, that approach has risked conflict with some advertisers, politicians and users.
In a message to advertisers on Twitter on Thursday, Musk said he bought the company to "create a common digital town square where different viewpoints can be healthy debated." He also said that Twitter will not be a "free-for-all hellscape" where you can say anything without any after effect.
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