04 November 2022
Elon Musk has reportedly completed the acquisition of Twitter. This puts an end to the whole drama that started months ago when we first about Musk's intentions of buying the social media platform. A lot of developments during these past few months but Musk is finally the owner of the company. He is also said to have fired multiple top Twitter executives soon after.
Twitter CEO Parag Agrawal, CFO Ned Segal, and Head of Legal Policy, Trust, and Safety Vijaya Gadde are among the people who received pink slips. None of these people along with Twitter has offered an official statement on the development yet. It is quite possible we may hear something from the company in the coming days. It will also be interesting to see who will be replacing these executives under the new regime.
Even though Musk himself is yet to confirm that he has bought Twitter, he did tweet, "the bird is freed". This seems to be a hint that he is indeed the new owner of the microblogging platform. We have seen him being very vocal about how Twitter needs to be a better place and how he can help the platform reach its true potential.
the bird is freed— Elon Musk (@elonmusk) October 28, 2022
The whole saga began in April when Musk revealed his wish to buy Twitter for $41 billion by paying $54.20 per share in cash. The official confirmation of the acquisition proposal came just a couple of days later. However, Musk decided to put the deal on hold a month later citing uncertainty over the number of fake accounts on the platform. This led to Twitter suing Musk for not honoring the deal and the trial was set to begin on October 17th. The judge ended up delaying the trial and gave both parties until Friday to complete the deal which has happened finally.