After months of spending trying to undo the deal he initiated, Tesla founder Elon Musk will pay $44 billion for ownership of Twitter, honoring a the deal was done in April. News confirmed This morning by the US Securities and Exchange Commission after a highly dramatic day at Twitter.
At the end of yesterday, washington articles report that several top executives have been fired, including Chief Executive Officer Parag Agrawal, Chief Financial Officer Ned Segal, chief adviser Sean Edgett and chief policy officer Vijaya Gadde, whom Musk has proposed making the case. background in favor of liberal political views. Reuters reported that executives were escorted from Twitter’s San Francisco headquarters.
Musk changed his bio to “Chief Twit” and tweeted: “The bird is freed.” Twitter co-founder Biz Stone thanked the three executives for their “joint contribution” to the social network. Segal then updated her bio for Twitter’s “former CFO and current fan”.
The deal completes Musk’s metamorphosis from Twitter super userarrive vocal critic, for the owner. The platform and the company behind it seem set for big changes. Businessmen said he will allow former US president Donald Trump to return to the platform and accused Twitter’s censorship policies cause perceptions of liberal bias. In text messages released in an attempt to get out of the deal, Musk discussed staff cuts.
Musk first offered to buy Twitter in April after buying about 10% of the company and tried and then refused to join its board. Twitter’s board initially decided against the takeover, but later in the month announced that it accepted Musk’s offer to acquire the company for $44 billion, in a deal that included a $1 billion termination fee should choose one of the two sides to leave.
Almost immediately, the company lost some Top talent. Musk has made it clear that he wants big changes at Twitter, even though its cultural influence in politics and media has lagged behind other social networks in terms of size and profitability.
Musk said he’s concerned about political bias and would like to see Twitter advocate for “freedom of speech” by restricting only posts that violate the law, a policy that in the US would allow offensive language. Hostile and other content is currently prohibited. Activists, company insiders, and some minority shareholders are beginning to worry that Twitter under Musk will become a paradise to troll and harass.
Gadde, who led Twitter’s moderation work, was tormented for online abuse after Musk tweeted a meme highlighting her image implies that she caused censorship of the platform’s content in favor of liberal views. (Twitter of own research pointed out that the platform in fact favors right-wing politicians and media outlets).
Musk’s passion for Twitter faded a few weeks after the deal was agreed, following a sell-off in the stock market. The businessman claims that the deal is “temporarily hold“Allegations that the company has lying about the number of bots in the amounts disclosed in the financial records.