Tesla CEO Elon Musk is now in charge of Twitter, according to CNBC’s David Faber.
Twitter CEO Parag Agrawal and finance chief Ned Segal have both left the company’s headquarters in San Francisco.
Elon Musk, CEO of Tesla, is now in charge of Twitter, according to CNBC.
According to sources, Twitter CEO Parag Agrawal and finance chief Ned Segal have left the company’s San Francisco headquarters and will not be returning. According to the Washington Post, Vijaya Gadde, the head of legal policy, trust, and safety, was also fired.
Musk had until Friday to complete his $44 billion purchase of Twitter or face legal action from the company.
In an apparent reference to the completion of the takeover, the billionaire tweeted “the bird is freed.
Twitter accepted Musk’s offer to buy the social media service and take it private in April. Musk, on the other hand, quickly cast doubt on his intentions to follow through on the agreement, claiming that the company failed to adequately disclose the number of spam and fake accounts on the service.
When Musk announced his intention to terminate the agreement, Twitter sued him, alleging that he “refuses to honour his obligations to Twitter and its stockholders because the agreement he signed no longer serves his personal interests.
As the two parties prepared to appear before Delaware’s Court of Chancery to decide the fate of the company and whether the Tesla CEO would retain control of it, Twitter and Musk began exchanging jabs through their attorneys in the months that followed.
Musk had a change of heart earlier in October and declared he would proceed with his purchase of Twitter at the initial share price of $54.20 if the social messaging service dropped its legal action. The Tesla CEO’s “proposal is an invitation to further mischief and delay,” Twitter’s lawyers claimed, expressing their mistrust of Musk’s motivations.
Musk was eventually given until October 28 to finalise the Twitter deal or face trial, according to a decision made by a Delaware Chancery Court judge.
To reassure advertisers that social messaging services wouldn’t turn into “a free-for-all hellscape, where anything can be said with no consequences!,” Musk wrote a message on Thursday.
I bought Twitter because I believe it is crucial for civilization to have a common digital town square where different viewpoints can be respectfully discussed without resorting to violence, Musk wrote in the message. There is currently a significant risk that far-right and far-left echo chambers on social media will spread more hate and split our society.
Musk documented the event on Twitter, writing, “Entering Twitter HQ – let that sink in,” when he arrived at the company’s headquarters earlier this week.