Elon Musk’s Twitter deal ends Thursday night

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SAN FRANCISCO — Elon Musk became the owner of Twitter late Thursday after his $44 billion deal to take over the company closed.

As one of his first moves, he fired several senior Twitter executives, according to three people familiar with the matter who spoke on condition of anonymity to discuss sensitive issues. One of them confirmed that the deal was closed.

CEO Parag Agrawal, CFO Ned Segal and Vijaya Gadde, head of legal, trust and safety policy, have all been fired, people say. Sean Edgett, the company’s general counsel, was also kicked out, one of the people said. Senior leaders were hastily evacuated from the building, the people said.

Documents detail plans to gut Twitter’s workforce

Musk’s moves late Thursday signal his intentions to firmly put his stamp on one of the world’s most influential social media companies. Musk has publicly criticized Twitter’s outgoing leadership over product decisions and content moderation, while saying he would reinstate former President Donald Trump’s account.

Still, “Twitter obviously cannot become a free-for-all hellscape, where anything can be said without consequences!” Musk tweeted on Thursday.

The deal’s conclusion capped a months-long rollercoaster saga in which the billionaire – the world’s richest man – led a hostile takeover bid to buy the company at an inflated price, only to reverse the agreement and then get into a bitter legal battle. with the social network.

Elon Musk calls himself “Chief Twit”

But in recent days, Musk has appeared resigned, and even enthusiastic, about his impending ownership. He showed up unannounced at the company’s offices on Wednesday, carrying a sink to suggest that the message that he would become an owner should “sink in”, according to a photo he posted to his more than 100 million followers on Twitter.

He plans to hold a company-wide town hall on Friday.

Neither Twitter nor the executives immediately responded to a request for comment.

These decisions place the announced entrepreneur at the head of one of the most powerful communication platforms in the world just days before major elections in the United States and Brazil.

Musk, a transportation magnate who is also CEO of Tesla and SpaceX, gave some hints about what he would do when he takes over Twitter, despite having no experience running a social media service. .

Elon Musk offers to buy Twitter at original price weeks before trial

He suggested he wanted to relax standards for vetting harmful content such as misinformation and hate speech. He also denounced the so-called censorship of social media companies.

He has repeatedly criticized the company and supported online attacks against individual executives. He told potential investors and partners that he wanted to effect a financial turnaround for the company by laying off nearly 75% of the workforce and looking into new business opportunities, including inviting people to s subscribe to exclusive content from popular influencers on the service.

Musk represents a different type of social media business owner than his predecessor, Twitter co-founder Jack Dorsey, or his now-rival, Facebook CEO Mark Zuckerberg.

Elon Musk says he would overturn Donald Trump’s ban

During his Twitter offering, he sometimes called himself a moderate, but also announced his intention to vote for a Republican president in 2024. He also weighed in on the geopolitical disputes between China and Taiwan and the war in Ukraine.

About Charles D. Goolsby

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