Elon Musk has completed his $44 Billion Twitter takeover according to the sources.
After all legal battles, Elon Musk has finally purchased Twitter. According to Musk, he bought the social media platform to help humanity and he wanted “civilisation to have a common digital town square”.
He fired the top three executives of Twitter including CEO Parag Agrawal.
According to the sources Sean Edgett, the general counsel, Parag Agrawal, the CEO, and Vijaya Gadde, the head of legal policy, trust, and safety, were all fired by Elon Musk.
Musk Tweeted:
According to sources, “Gadde, who was employed by former CEO Jack Dorsey, was responsible for decisions like removing former President Donald Trump from the platform.”
Musk later denied making claims, it’s still unsettling to the other Twitter employees to fire four executives on a Thursday night. Musk was rumoured to want to reduce Twitter’s staff by 75%. Even Biz Stone, a co-founder of Twitter, commented on the changes.
Since Agrawal replaced Dorsey as CEO of Twitter, the executive team has undergone a significant turnover. Agrawal began his career at Twitter in 2011, and prior to becoming CEO, he held the position of CTO.
The Chief Design Officer of Twitter, Dantley Davis, who joined the company in 2019, and the Head of Engineering, Michael Montano, who joined the company in 2011, both left within a few weeks as a result of Agrawal’s restructuring.
The resignation of Mr. Agrawal as CEO will widely be celebrated on the right of US politics. They see Mr. Agrawal and Jack Dorsey, who was Mr. Agrawal’s predecessor, as liberals who are restricting free speech.
Additionally, they believe that Twitter has censored conservative voices while under their leadership, which Twitter strongly disproves.
Rinki Sethi, the chief information security officer, and Peiter Zatko, the head of security, left Twitter shortly after Mudge.
Under Musk’s direction, Twitter’s management will already look very different, and this is just the beginning.
Who is Elon Musk?
Elon Reeve Musk was born on June 28, 1971. He is the owner of Tesla and a business magnate.
He founded The Boring Company, co-founded Neuralink and OpenAI, served as president of the Musk Foundation, was the founder, CEO, and chief engineer of SpaceX, served as an angel investor, CEO, and product architect of Tesla, Inc., and was the owner of Twitter, Inc.
As of October 26, 2022, with an estimated net worth of around $210 billion. According to both the Bloomberg Billionaires Index and Forbes’ real-time billionaires list, Elon Musk is the richest person in the world.
Even as early as 2017, Musk expressed a desire to buy Twitter. Musk started buying Twitter shares in January 2022 and acquired a 5% stake in the company by March. By April, he had a 9% stake, making him the company’s largest shareholder. In violation of American securities laws, he failed to submit the required SEC paperwork within 10 days of his stake passing 5%.
In addition to honorary membership in IEEE, Elon Musk was awarded an honorary doctorate in engineering and technology from Yale University in 2015.
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