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Finally, Elon Musk Completes $44bn Twitter Takeover

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Elon Musk

The world’s richest man, Elon Musk, has completed his $44bn (£38.1bn) takeover of the micro-blogging site, Twitter.

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

Musk reportedly fired Twitter Chief Executive, Parag Agrawal, Chief Financial Officer, Ned Segal, and legal affairs and policy chief, Vijaya Gadde. He had accused them of misleading him and Twitter investors over the number of fake accounts on the platform.

Twitter co-founder Biz Stone thanked Mr. Agrawal, Mr. Segal, and Ms. Gadde for their “collective contribution” to the business.

Agrawal and Segal were in Twitter’s San Francisco headquarters when the deal closed and was reportedly escorted out.

Musk, who also runs rocket company SpaceX, plans to become Twitter’s CEO after completing the acquisition and also plans to scrap permanent bans on users.

Twitter has not yet confirmed the takeover, but an early investor in the company told the BBC that the deal had been completed.
Meanwhile, Bret Taylor – who had served as Twitter’s chairman since last November – updated his LinkedIn profile to indicate that he was no longer in the post.

The social media platform’s shares will be suspended from trading on Friday, according to the New York Stock Exchange’s website.

Mr. Musk said he bought the social media platform to help humanity and he wanted “civilisation to have a common digital town square”.

Earlier this week, Mr. Musk tweeted a video of himself walking into Twitter’s headquarters in San Francisco carrying a kitchen sink with the caption: “let that sink in!”

He also changed his Twitter profile to read “Chief Twit”.

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