The world’s richest person, Elon Musk, has completed his $44bn (£38.1bn) takeover of Twitter, according to a firm investor.
Several top executives, including CEO Parag Agrawal, are said to have been sacked.
It concludes a saga in which Twitter went to court to force the billionaire to abide by the terms of a takeover deal he had tried to avoid.
Mr Musk stated on Twitter that his interest in the company was not motivated by a desire to make money. Today he said in a tweet ‘the bird is free’.
the bird is released
— Elon Musk (@elonmusk) October 28, 2022
The world’s richest man, Elon Musk, has fired three top executives, including CEO Parag Agrawal, in one of his first decisions as chief executive of the social media giant, multiple US-based news outlets reported on Thursday. United States, citing people familiar with the matter.
Dear Twitter Advertisers pic.twitter.com/GMwHmInPAS
— Elon Musk (@elonmusk) October 27, 2022
Chief financial officer Ned Segal and Vijaya Gadde, chief legal, policy and trustee, were also reportedly fired.
Twitter’s general counsel, Sean Edgett, was also fired, according to the Washington Post, citing an anonymous source.
Musk or Twitter have yet to confirm the layoffs.
The Tesla CEO’s buyout concludes a six-month saga in which Twitter initially rejected Musk’s buyout offer and then sued the billionaire after he indicated he would back out of the deal over concerns about spam accounts and whistleblower reports. on lax cybersecurity practices.
Musk’s interest in the platform has become a flash point in the debate over free speech in the digital age. Many conservatives have hailed Musk’s inauguration as a corrective to Big Tech’s censorship of politically incorrect views. Critics have raised concerns that Musk’s reign could spell open season for hate speech and misinformation.
Musk, who describes himself as a “free speech absolutist,” criticized Twitter’s moderation policies and opposed censorship that exceeds legal requirements. Musk announced in May that he would reinstate the Twitter account of former US President Donald Trump, which had been suspended for allegedly inciting violence following the January 6 riots at the US Capitol.
Graphics credit: Editorialge.com
Musk also expressed his dissatisfaction with the platform’s reliance on advertising and is expected to oversee major job cuts at the company, though he has reportedly denied a Washington Post report that he intends to cut 75% of the workforce.
Musk, who previously changed his Twitter bio to “Chief Twit,” denied any intention to turn Twitter into “hell for all” in a lengthy message posted to Twitter before the purchase deadline on Friday.
“The reason I acquired Twitter is that it is important for the future of civilization to have a common digital public square, where a wide range of beliefs can be discussed in a healthy way, without resorting to violence,” he said.
Twitter co-founder Biz Stone thanked Mr. Parag Agrawal, Mr. Segal and Ms. Gadde for their “collective contribution” to the company.
— Biz Stone (@biz) October 28, 2022
Musk, who has positioned himself as a moderate, frequently weighs in on politics and has drawn criticism for unconventional proposals to deal with geopolitical hotspots from Taiwan to Ukraine.
Earlier this year, the billionaire declared he would vote Republican in the upcoming election because the Democrats had become the “party of division and hate,” but later claimed he supported moderate candidates from both parties.
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