Elon Musk Officially Takes Over Twitter in $44 Billion Deal

O. Adejo

Tesla CEO Elon Musk has officially taken over Twitter after agreeing to buy the social media company for $44 billion.

According to reports, Elon Musk fired three top executives, including Twitter CEO Parag Agrawal, in one of his first moves as CEO. Ned Segal, the Chief Financial Officer, and Vijaya Gadde, the Head of Legal, Policy, and Trust, were also relieved of their duties.

From left Parag Agrawal, Elon Musk and Vijaya Gadde

The purchase of Twitter by Musk ends a six-month saga in which the company resisted Musk’s initial offer and then sued the billionaire after he hinted that he would withdraw his offer, citing incorrect data on spam and bot accounts on the platform.

Furthermore, there have been concerns that Musk’s acquisition of Twitter will allow hate speech and cyberbullying on the platform. Another group, however, has praised the purchase as a countermeasure to censorship of politically incorrect views.

The billionaire, who takes pride in promoting free speech, had objected to Twitter’s censorship options and stated that he would not censor beyond what the law requires. In addition, he hinted in May that former US President Donald Trump might return to the platform. Trump was removed from office on January 6, 2021, for allegedly inciting violence that resulted in the Capitol riots.

According to reports, Musk also disagrees with Twitter’s advertising policies and intends to make significant job cuts at the company. However, the billionaire denied a report in the “Washington Post” that he planned to reduce his workforce by 75%.

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