Elon Musk, the CEO of Tesla, reportedly took over Twitter and sacked its senior executives. This happened before a 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.
He had claimed that they had misled him and Twitter’s investors over the prevalence of phoney accounts on the social media site.
Musk had stated on Thursday that he was purchasing Twitter in order to “attempt to help more humanity, whom I adore.” Ned Sehgal and Parag Agrawal were in Twitter’s San Francisco headquarters as the acquisition completed and was hauled out, sources told Reuters.
Elon Musk visited the Twitter offices the day before the transaction closed and modified his bio to read “Chief Twit.”
“Twitter definitely cannot become a free-for-all hellscape, where anything can be spoken with no consequences!” Musk said in an open letter to advertisers on Thursday.
On April 4, Musk revealed that he was the company’s top stakeholder with a 9.2 percent stake, starting the $44 billion takeover. 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 phoney 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 because 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.