Elon Musk now owns Twitter

Studies surfaced earlier on Thursday that numerous users of Twitter’s senior management had been summarily fired, like CEO Parag Agrawal, CFO Ned Segal and head of legal Vijaya Gadde. Sources acquainted with the make any difference informed the Wall Street Journal that Musk had done the offer on Thursday, a person working day before a court imposed deadline.

The abrupt purging of top executives and the absence of any formal update from Twitter about the status of the acquisition appeared to bring to an finish, in fitting trend, a person of the most weird offers in company historical past.

Musk agreed to get the social networking web site in April for $54.20 for every share, but changed his head and sought to back again out of the deal a pair of months afterwards as the markets endured a sharp decline.

Musk argued that Twitter had misinformed him about the volume of pretend “bot” customers on the system, saying without proof that the number of bots was drastically better than Twitter’s 5% estimate. Twitter then sued Musk in Delaware Chancery Courtroom to pressure him to near the deal.

Throughout the system Musk taunted Twitter executives, firing off tweets accusing them of political bias and bad administration. At one particular place Musk proposed turning Twitter’s San Francisco headquarters into a homeless shelter. On a further event he responded to CEO Agrawal with a poop emoji.

With about 240 million everyday buyers, Twitter is 1 of the most influential social media services, utilized by politicians, superstars, activists, and business enterprise moguls to announce news, share facts and make jokes.

The sale to Musk, the world’s richest particular person and the CEO of two other firms — electric auto maker Tesla and aerospace enterprise SpaceX — implies that Twitter will turn into a privately held company owned by Musk.

Musk’s ownership of Twitter has elevated worries inside and outside the firm with regards to his ideas. The 51-year-aged has said he intends to loosen Twitter’s procedures about satisfactory speech on the provider, which include perhaps overturning the lifetime ban on former president Donald Trump, and that he meant to layoff 75% of the company’s workers.

In a information to Twitter advertisers that Musk tweeted before on Thursday, he wrote that he was obtaining Twitter “because it is important to the potential of civilization to have a prevalent digital town square, in which a wide range of healthful beliefs can be debated in a healthier manner, with out resorting to violence.”

“Twitter definitely simply cannot grow to be a free of charge-for-all hellscape, in which just about anything can be stated with no consequences!” Musk wrote.

Twitter representatives did not return requests for comment on the status of the acquisition.