Elon Musk has completed the $44 billion acquisition of Twitter after months of tossing around with deals.
His first step was to fire the top leadership of the social media company, which he accused of misleading him about the number of spam accounts on the platform.
Musk fires CEO Parag Agrawal, CFO Ned Siegel and head of legal affairs and policy
According to reports, Vijayagad.
Agrawal and Siegel were allegedly at Twitter’s San Francisco headquarters when the deal closed and were escorted out of the building.
After the social media company, the founders of Tesla and SpaceX were given an Oct. 28 deadline to close the deal to avoid trial. sue him trying to tear up His initial offer in April.
Musk and Twitter Originally due to appear in court on October 17, but after the world’s richest man said he would Complete the purchase after all.
Earlier this week, Musk posted a bizarre video of himself Bring the sink into Twitter’s San Francisco headquarters Next to the message “Enter Twitter HQ – let it sink in”.
‘Let it sink in’
He also updated his Twitter bio to “Chief Twit,” further signalling the completion of the deal.
Musk said he wants to “beat” spam bots on Twitter, publicly determine the algorithms that determine how content is presented to users, and prevent the platform from becoming an echo chamber of hate and division, even as he limits censorship.
He did not elaborate on how he would achieve those aspirations and who would run the company — and his plans so far have been vague.
However, he hinted at plans for layoffs.
Musk reportedly told employees during the visit that he planned to cut up to 75% of his workforce following the Twitter acquisition, which was incorrect.
It was previously reported that Musk told investors he wanted to cut three-quarters of the company’s 7,500 employees.
Among other plans, the outspoken billionaire has repeatedly referred to a “super app,” which he tentatively calls “X.”
The concept has been WeChat in Chinawhich combines familiar features like messaging, marketplaces, and public Twitter-style posts into one place.
read more:
Super app or Wild West?The future of Twitter under Elon Musk
Musk tells investors he plans to sell users premium subscriptions to reduce reliance on ads, allowing
According to Reuters, content creators can earn and pay.
Elsewhere, there are concerns that his plan to cut content moderation will lead to a flood of hateful, harmful and potentially illegal content on Twitter.
He has previously spoken about his belief in “absolute freedom of speech” and suggested he would allow suspended and oft-controversial figures such as former US President Donald Trump to return to the platform.
World’s richest man’s loose stance on moderation could be a path, experts warn The ‘worst’ trolls to serve thriveturned Twitter into a “Wild West” where anything could go.
The Oct. 28 deadline was to give Musk time to fund the deal. If not met, a judge in Delaware (the U.S. state where Twitter is based) will schedule a trial in November.
It ended a months-long feud between the two parties over the acquisition, Musk complains about fake accounts on platform and whistleblower claims Twitter misled regulators Regarding security risks.
It also emerged earlier this month that Musk is Federal authorities investigate its conduct.