Apparently, Elon Musk is now in charge of Twitter, according to reports tonight. And he has already let go of a number of top executives. Elon Musk Fires Twitter CEO and CFO as soon as he took over Twitter
According to a tweet from CNBC’s David Faber, the contentious $44 billion deal that had recently appeared to be in jeopardy closed on Thursday night, just in time for the court’s deadline.
Twitter’s CEO and CFO fired
Twitter’s CEO Parag Agrawal and chief financial officer Ned Segal have “left the company’s HQ” in San Francisco and “will not be returning,” according to Faber, who also stated that “Elon Musk is now in charge at Twitter.”
Twitter is now run by Elon Musk. According to what has been said, former CEO @paraga and CFO @nedsegal have left the company’s headquarters and won’t be coming back as the Musk era starts.
Musk tweeted, “Entering Twitter HQ — let that sink in,” hours after performing the bizarre stunt of carrying a sink into the company’s headquarters. Musk then posted a message to advertisers outlining his reasons for wanting to acquire Twitter.
A common digital town square where a wide range of beliefs can be debated in a healthy manner, without resorting to violence, is crucial for the future of civilization, he said. Which is why he bought Twitter. “There is currently a great risk that social media will splinter into echo chambers on the far right and far left that will spread more hate and split our society.
Many traditional media outlets have fueled and catered to those polarized extremes in their relentless pursuit of clicks because they think that will make them money, but by doing so, the chance for dialogue is lost.
That’s why I bought Twitter, he continued. Because it would be simple, I chose not to do it. I didn’t do it to increase my earnings. I did it to try to help humanity, whom I love. And I do so with humility, recognizing that failure in pursuing this goal, despite our best efforts, is a very real possibility.”
Friday’s development brings to a close a six-month squabble between Musk and the social media company.
Twitter accepted Musk’s offer to acquire the company in April, but a short while later, Musk appeared to get cold feet, claiming Twitter had failed to accurately reveal the number of fake, bot, and spam accounts on the platform.
Musk tried to pull out of the deal, prompting Twitter to take legal action in a bid to force it through.
Now, staff at Twitter will be waiting to learn about any possible job losses that could hit the company. Recent reports suggested Musk intended to lay off around 75% of its employees, reducing the headcount from 7,500 to just 2,000. Though on Thursday, the new owner reportedly said that such a large reduction was not part of his plan.
What will Twitter users expect?
But it’s not just staff who are keen to find out about incoming changes. Twitter’s community of more than 235 million daily active users will also be keen to see how the platform changes.
For example, earlier comments by Musk suggest he may reduce content moderation, which many fear will lead to more harassment and other kinds of toxic speech on the platform.
The new owner could also reinstate the accounts of a number of banned users, among them former U.S. president Donald Trump.
However, in his message to advertisers on Thursday, he acknowledged that Twitter “cannot become a free-for-all hellscape, where anything can be said with no consequences,” suggesting moderation may not be relaxed after all.
Mr Trump account remains deactivated and he mentioned he won’t create a new account he will continue posting on his own platform Truth Social.
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