Elon Musk has taken control of Twitter only to oust the CEO, CFO, and company’s top lawyer.
Labeling himself as the new Twitter Twit on his Twitter Bio, Musk has closed the $44 billion deal which had a deadline for Friday, October 28.
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The deadline was set by a Delaware Chancery Court judge, earlier in October, to finalize the deal before Friday, with a threat to schedule a trial if no deal was reached.
This was the climax to a legal fracas that began in April when Musk signed the deal to acquire Twitter, only to later back out of it.
This led to a lawsuit from Twitter, in an attempt to have the deal finalized.
Musk entered Twitter headquarters in San Francisco carrying a sink through the lobby area on Wednesday, October. 26, 2022 as a message to investors and critics.
Meeting a lot of cool people at Twitter today!
— Elon Musk (@elonmusk) October 26, 2022
The move was to officiate the deal which has resulted in the axing of Twitter CEO Parag Agrawal, CFO Ned Segal and Chief Legal Counsel Vijaya Gadde.
Musk is expected to increase Twitter’s subscriber base revenue as part of his strategy.
The Tesla head has made it clear that he also plans to promote free speech by cutting back on moderating content.
He is yet to outline the parameters of what he deems as free speech.
“The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence,” Musk wrote.
“There is currently great danger that social media will splinter into far right wing and far left wing echo chambers that generate more hate and divide our society.”
Dear Twitter Advertisers pic.twitter.com/GMwHmInPAS
— Elon Musk (@elonmusk) October 27, 2022
Musks’ appointment has some Twitter employees shaken after a report from the Washington Post that reported that Musk allegedly planned to cut three quarters of Twitter’s workers when he took over.
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