Elon Musk buys Twitter and fires senior management
Elon Musk has apparently finally bought Twitter after a long back and forth. The Tesla CEO announced this indirectly via tweet, thereby confirming what had recently been indicated. First act: Musk fires former Twitter CEO Parag Agrawal, CFO Ned Segal and chief lawyer Vijaya Gadde.
It had already been indicated: Elon Musk finally took over the short message service Twitter after a long back and forth. The Tesla CEO thus averted a court case in the last few meters. Because after Musk withdrew from the deal, both parties sued each other.
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Elon Musk buys Twitter and avoids court case
After another U-turn, the Tesla boss recently signaled that he wanted to take over Twitter after all. The judge in charge then asked both parties to reach an agreement in order to avert the trial scheduled for October 28th.
This has now apparently succeeded. The deal seems to be done. Musk confirmed that via Twitter personally. “The bird is free,” he wrote there succinctly. The richest man in the world now also calls himself “Chief Twit” on his Twitter profile.
the bird is freed
— Elon Musk (@elonmusk) October 28, 2022
Musk fires Twitter CEO Parag Agrawal
Meanwhile, the era of Elon Musk on Twitter began with a bang. As The Wall Street Journal (WSJ), Musk promptly fired several executives, including former Twitter CEO Parag Agrawal, CFO Ned Segal and chief legal officer Vijaya Gadde.
It is still unclear who will take on the post of new CEO. According to reports, however, Elon Musk himself has ambitions to hold the position of executive director. He would not only act in the background, but also intervene directly in day-to-day operations.
Elon Musk buys Twitter
Meanwhile, the Tesla CEO wants to finance the deal both from his own resources and with contributions from co-investors. Noisy WSJ the purchase should again go through the stage for the originally agreed 44 billion US dollars. An official confirmation is still pending.
However, the transaction must be completed by 5:00 p.m. local time (11:00 p.m. CEST) on Friday, October 28, 2022. Otherwise, Musk still has to go to court. Meanwhile, Twitter shares have been suspended from trading. An indication that the deal is actually going through.
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