Elon Musk has taken control of Twitter and fired the CEO, CFO, and senior legal, according to two sources. People wouldn’t tell if the $44 billion agreement had been signed or concluded.
Musk reportedly fired CEO Parag Agrawal, CFO Ned Segal, and Chief Legal Counsel Vijaya Gadde. Because of the deal’s sensitivity, neither wanted to be recognized.
Text messages revealed in court files show Musk and Agrawal argued in April before Musk’s offer.
He also criticized the company’s top lawyer on Twitter. After his tweets, other Twitter accounts harassed Gadde. Gadde, an 11-year Twitter employee who manages public policy and safety, faced racist and misogynistic comments and calls on Musk to fire her. After she was fired, abusive tweets resumed.
Musk’s modifications will boost Twitter’s subscribers and revenue. Musk said he’s purchasing Twitter to benefit humanity and doesn’t want it to become a “free-for-all hellscape“
“I Acquired Twitter Because It’s Crucial to The Future of Civilization to Have a Shared Digital Town Square,” Musk Wrote.
“There is a great danger that social media may splinter into far right and far left echo chambers,” he added, he told marketers he wants Twitter to be the world’s best ad platform.
Musk said Twitter should be “warm and friendly” and let people pick their experience.
The Delaware Chancery Court set Friday’s deadline in early October. It’s the latest move in a struggle that began in April when Musk signed an agreement to acquire Twitter, then tried to back out.
Twitter sued him to force him to complete the transaction. If the two sides miss Friday’s deadline, a judge could force Musk to finalize the transaction in November.
Musk has signaled a deal. He carried a porcelain sink into the company’s San Francisco headquarters and changed his Twitter profile to “Chief Twit.” “Entering Twitter HQ – let it sink in!“
The New York Stock Exchange suspended Twitter share trading overnight in anticipation of Musk taking the firm private.
According to an internal document reported by media sources, Musk will speak to Twitter employees Friday if the sale is finalized. Despite internal turmoil and low morale due to layoff fears, Twitter officials have embraced Musk’s appearance and messaging.
Chief customer officer Sarah Personette said she had a “wonderful conversation” with Musk on Wednesday and endorsed his Thursday message to advertising.
Personette Tweeted Thursday that Brand Safety Remains a Priority. “future-Oriented!”
Musk’s joy in visiting Twitter this week contrasted with his earlier recommendation that the building is transformed into a homeless shelter because so few staff worked there.
The Washington Post reported last week that Musk told investors he planned to slash 75 percent of Twitter’s 7,500 personnel. Documents and unidentified sources were cited.
Musk has mocked Twitter’s “spam bots” “Making inconsistent statements about Twitter’s problems and solutions. He’s provided a few details about his Twitter plans.
Thursday’s statement to advertisers shows a heightened emphasis on advertising revenue, notably the need for Twitter to give more “relevant ads,” which usually implies targeted ads based on user’s personal information.
Parag Agrawal, Ned Segal, and Vijaya Gadde were reportedly sacked by Musk. Nobody knew if the $44 billion deal was signed or not. Due to the sensitive deal, neither wanted recognition. The Washington Post reported last week that Musk plans to cut 75% of Twitter’s 7,500 employees. Citations included documents and unidentifiable sources.
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