Elon Musk, the CEO of Tesla, reportedly took over Twitter and sacked its senior executives. This happened before the deadline of Friday to finish his platform acquisition.
Some of the senior executives who have been let go include Twitter CEO Parag Agarwal, director of legal, policy, and trust Vijaya Gadde, and chief financial officer Ned Segal, according to news agency Reuters.
Musk had claimed that they had misled him and Twitter’s investors over the prevalence of fake accounts on the social media site.
Elon Musk visited the Twitter HQ the day before the transaction
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Musk had stated on Thursday that he was purchasing Twitter in order to ‘try to help more humanity, whom I love’. When the deal concluded, Ned Sehgal and Parag Agrawal were present at Twitter’s San Francisco offices and were escorted out, sources told Reuters.
Elon Musk visited the Twitter HQ the day before the transaction closed and modified his bio to “Chief Twit.”
“Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!” Musk said in an open letter to advertisers on Thursday.
The $44 billion acquisition began on April 4 when Musk announced that he had a 9.2 percent stake in the company
The $44 billion acquisition began on April 4 when Musk announced that he had a 9.2 percent stake in the company, making him the largest shareholder. After stating that he intended to remove spam accounts, his attorneys charged Twitter with failing to provide the information they had requested.
But by mid-May, Musk had changed his mind about the deal, citing worries that there were more fake accounts on the microblogging platform than Twitter had indicated. Then he declared that the $44 billion deal was no longer something he wanted to proceed with. Twitter sued the billionaire on the grounds that the transaction was legally binding.
Early in October, when Musk was scheduled to be questioned by Twitter’s attorneys before the commencement of their trial, he again reversed course and proposed to close the deal.