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Elon Musk’s Twitter ownership begins with firings, completes $44bn Twitter takeover

Gloria Atuhairwe by Gloria Atuhairwe
October 28, 2022
in Apps, Business, News, Tech
Reading Time: 2 mins read
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Twitter ownership
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Elon Musk became Twitter’s new owner on Thursday, firing top executives he had accused of misleading him and providing little clarity over how he will achieve the lofty ambitions he has outlined for the influential social media platform.

The CEO of electric car maker Tesla has said he wants to “defeat” spam bots on Twitter, make the algorithms that determine how content is presented to its users publicly available, and prevent the platform from becoming an echo chamber for hate and division, even as he limits censorship.

Yet Musk has not offered details on how he will achieve all this and who will run the company. He has said he plans to cut jobs, leaving Twitter’s approximately 7,500 employees fretting about their future. He also said on Thursday he did not buy Twitter to make more money but “to try to help humanity, whom I love.”

Musk terminated Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal and legal affairs and policy chief Vijaya Gadde, according to people familiar with the matter. He had accused them of misleading him and Twitter investors over the number of fake accounts on the social media platform.

Elon Musk, has completed his $44bn (£38.1bn) takeover of Twitter, according to US media and an investor in the firm.

He tweeted “the bird is freed,” in an apparent reference to the deal closing.

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