Elon Musk Buys Twitter, Fires CEO And Top Executives

Elon Musk's first actions as CEO of Twitter were dismissing Parag Agrawal, who had taken the Tesla CEO to court to enforce the terms of a takeover agreement he had attempted to elude.

By Stermy 2 Min Read

Elon Musk, the richest man in the world, is said to have finalized his $44 billion purchase of Twitter, seizing control of the business and firing some of its top employees.

Elon’s firing spree also included the CEO of the social media platform, CEO Parag Agrawal.

The news of Musk’s takeover of twitter has been confirmed by many top online outlets including the likes of Reuters, the washington Post, etc.

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Elon Musk Buys Twitter: According to multiple reports, the deal closed on Thursday evening, October 27, 2022, laving Elon now the Owner of the social media company.

It has also been included in reports by Reuters that that the CEO of Twitter, Agrawal, as well as the chief financial officer, Ned Segal were in Twitter’s San Francisco headquarters when the deal closed and were escorted out.

The announcement, which comes before a Friday deadline to complete his acquisition of the company, puts the world’s richest man in charge of the significant social media network with more than 230 million users and brings to an end to turbulent months of back-and-forth over his decision.

On April 25, Musk agreed to buy Twitter, but after getting into a dispute with the company over the volume of spam accounts using its network, he announced in July that he was pulling out of the agreement.

Then, in order to force Musk to complete the transaction, Twitter sued him in Delaware, where the firm is incorporated. A Delaware judge then allowed both parties until October 28 to complete the transaction after a sudden change of heart by Musk as a court date drew near.

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By Stermy
Stermy is one Crazy fan of the word "Internet". Always online to stay informed and keep others updated. #townflex