Elon Musk Twitter deal closes, CEO fired


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SAN FRANCISCO — Elon Musk turned Twitter’s proprietor late Thursday as his $44 billion deal to take over the corporate closed, marking a brand new period for one of many world’s most influential social media platforms.

As certainly one of his first strikes, he fired a number of prime Twitter executives, in response to three folks acquainted with the matter who spoke on the situation of anonymity to debate delicate issues. One of these confirmed the deal had closed.

CEO Parag Agrawal, chief monetary officer Ned Segal, and Vijaya Gadde, head of authorized coverage, belief, and security, had been all fired, in response to the folks. Sean Edgett, the corporate’s normal counsel, was additionally pushed out, one of many folks mentioned. The prime executives had been unexpectedly shuttled from the constructing, the folks mentioned.

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Musk’s strikes late Thursday sign his intentions to place his stamp firmly one of many world’s most influential social media corporations. Musk has publicly criticized Twitter’s outgoing administration over product selections and content material moderation, in addition to saying he would restore former president Donald Trump‘s account.

Still, “Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!” Musk tweeted Thursday.

The closure of the deal ended a months-long roller coaster saga in which the billionaire — the world’s richest individual — performed a hostile takeover to purchase the corporate at an inflated value, solely to renege on the deal after which enter right into a bitter authorized battle with the social community.

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But in latest days, Musk appeared resigned, and even enthusiastic, about his impending possession. He confirmed up on the firm’s places of work unexpectedly on Wednesday, carrying a sink to recommend that the message that he would change into proprietor wanted to “sink in,” in response to a photograph he posted to his greater than 100 million Twitter followers.

He plans to carry a companywide city corridor on Friday.

Neither Twitter nor the executives responded instantly to a request for remark.

The strikes place the heralded entrepreneur on the helm of one of many world’s strongest communication platforms simply days forward of main elections within the U.S. and Brazil.

Musk, a transportation magnate who can be CEO of Tesla and SpaceX, has provided some clues about what he would do when he took over Twitter — regardless of having no expertise operating a social media service.

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He has prompt that he desires to loosen requirements for the policing of dangerous content material resembling misinformation and hate speech. He has additionally decried so-called censorship by social media corporations.

He has repeatedly criticized the corporate and supported online attacks towards particular person executives. He has informed potential traders and companions that he desires to execute a monetary turnaround of the corporate by firing nearly 75 percent of the workforce and leaning into new enterprise alternatives, together with having folks subscribe to unique content material from in style influencers on the service.

Musk represents a special form of proprietor of a social media firm than his predecessor, Twitter co-founder Jack Dorsey, or his now-rival Facebook CEO Mark Zuckerberg.

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Over the course of his Twitter bid, he has at occasions styled himself a reasonable, but additionally introduced plans to vote for a Republican president in 2024. He has additionally weighed in on geopolitical conflicts between China and Taiwan and on the Ukraine battle.

Inside Twitter, Musk’s arrival has been met with resentment and dismay — although Musk’s go to on Wednesday left some hopeful. Those hopes had been shortly dashed with the firings of prime executives, who had commanded the belief of present workers.

The temper after Wednesday’s go to was “overall slightly more positive,” mentioned one worker, who spoke on the situation of anonymity as a result of they weren’t licensed to talk publicly in regards to the firm, including “everyone’s ready to close this chapter and get to what comes next.”



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