Elon Musk becomes Twitter's new owner
WASHINGTON: Tesla billionaire and world’s richest person Elon Musk has now become new owner of one of the most popular social media company Twitter.
Western media reports quoted credible sources as confirmed that Elon Musk had closed his $44 billion deal to buy the social media service, and had started to set the management right with firing at least four top Twitter executives — including the chief executive and chief financial officer .
The $44-billion acquisition is the culmination of a remarkable saga, full of twists and turns, that sowed doubt over whether Musk would complete the deal. It began on April 4, when Musk disclosed a 9.2% stake in the company, making him its largest shareholder.
The CEO of electric car maker Tesla Inc (TSLA.O) has said he wants to “defeat” spam bots on Twitter, make the algorithms that determine how content is presented to its users publicly available, and prevent the platform from becoming an echo chamber for hate and division, even as he limits censorship.
Musk terminated Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal and legal affairs and policy chief Vijaya Gadde, according to people familiar with the matter. He had accused them of misleading him and Twitter investors over the number of fake accounts on the social media platform.
Reports suggest Elon Musk had arrived at Twitter’s San Francisco headquarters on Wednesday and met with engineers and ad executives.
Just yesterday, he changed his Twitter bio to read only “Chief Twit.” He previously said he would become the leader of Twitter, although the title of CEO is not important to him.
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