Elon Musk is now the new Twitter owner as the $44 billion deal has been finally completed.
And now that the tech billionaire is in-charge, he reportedly fired the top brass of the social media giant, including its Chief Executive Officer (CEO) Parag Agrawal, anonymous sources of Reuters claim.
(Photo : CHRIS DELMAS/AFP via Getty Images)
This illustration photo taken May 13, 2022, displays Elon Musks Twitter account with a Twitter logo in the background in Los Angeles.
This illustration photo taken May 13, 2022, displays Elon Musks Twitter account with a Twitter logo in the background in Los Angeles.
Elon Musk Now Owns Twitter
According to a recent report by Reuters, the big boss of tech giants like Tesla and SpaceX, Musk, is now in charge of the giant microblogging site Twitter.
The tech billionaire quietly hinted that the deal is already complete on his Twitter account. His official Twitter profile now states that he is the "Chief Twit" of the microblogging service. He also changed his location to "Twitter HQ."
As per a news story by CNBC, the completion of the Twitter acquisition is just in the nick of time before the deal ends up in a legal battle.
It is worth mentioning that the billionaire only had until this Friday, or October 28, 2022, to be more exact, to complete the multi-million deal before the acquisition ends up in court.
So it turns out that the Twitter and Elon Musk deal has finally been completed after a chaotic turn of events.
Elon Musk's $44 Billion Twitter Deal
The $44 billion acquisition started early this year or on April 4, 2022. Back then, the ultra-rich entrepreneur agreed to join the board of the social media service. But he immediately changed his mind. He then offered to buy the giant firm instead, Reuters reports.
(Photo : Gettly Images/Scott Olson)
CHICAGO, ILLINOIS APRIL 25: In this photo illustration, The Twitter profile of Elon Musk with more than 80 million followers in shown on a cell phone on April 25, 2022 in Chicago, Illinois.
CHICAGO, ILLINOIS APRIL 25: In this photo illustration, The Twitter profile of Elon Musk with more than 80 million followers in shown on a cell phone on April 25, 2022 in Chicago, Illinois.
However, his offer did not last long. The billionaire doubted the number of spam accounts that Twitter was disclosing. He also boldly accused the social media service of failing to accurately provide him with the number of fake accounts on the platform.
But as he was attempting to walk away from the deal, the tech giant slapped him with a lawsuit. CNBC notes that the suit alleges that Musk "refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests."
So in October, Musk decided to pursue the deal for Twitter to push back its lawsuit.
And now, the big boss of Tesla and SpaceX is also the new "Chief Twit."
Read Also: Elon Musk Says Tesla's $50 Billion Pay Package Not Excessive Due to Automaker's Rising Value
Twitter CEO, CFO Fired?
Reuters highlights in its report that unnamed sources claim that Musk has fired some of the top brass of the tech firm.
The new Twitter owner reportedly fired its CEO, Agrawal. Musk reportedly terminated its Financial Chief, Ned Segal, and legal affairs and policy chief, Vijaya Gadde.
The billionaire claims that these tech execs misled him and Twitter investors about the real numbers of spam accounts on the giant service.
The Twitter execs have reportedly left the HQ, and are no longer coming back.
Related Article: Elon Musk Makes a Meme about Going to Twitter HQ-Billionaire Finally Purchasing Social Media?
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Written by Teejay Boris
