The Deal Is Done: Elon Musk Finally Owns Twitter

Several top executives, including the CEO, reportedly have been fired.

A monthslong saga has in the end concluded: Elon Musk owns Twitter.

The deal became closed Thursday night time, in keeping with CNBC. CEO Parag Agrawal, Chief Financial Officer Ned Segal, and head of legal, policy, and protection Vijaya Gadde have been fired, in keeping with the Washington Post. Twitter and representatives for Musk did no longer right away reply to a request for remark from BuzzFeed News.

The drama commenced in early April, while Musk sold a 9.2% percentage within the organization, making him Twitter’s biggest shareholder. He turned into offered a seat on the board, some thing that former Twitter CEO Jack Dorsey seemed enthusiastic about. A few days later, Musk turned down the board seat and made a proposal to shop for the whole organisation for $44 billion.

But Musk quickly confirmed signs and symptoms of client’s remorse, seeking to returned out of the deal by way of claiming Twitter had extra bots than it had allow on. In July, Twitter filed a lawsuit compelling Musk to both undergo with the purchase or pay the $1 billion breakup price. The parties had been capable of remedy subjects before having to seem in Delaware chancery courtroom, however no longer before a fixed of Musk’s texts with Agrawal and various other influential humans had been launched as a part of the lawsuit.

Twitter personnel have not been thrilled approximately the new boss. After a record emerged that Musk planned to fire as much as 75% of the group of workers, Twitter personnel drafted an open letter stressful honest remedy under the new regime.

On Wednesday, the daddy of (at least) 8 visited Twitter’s San Francisco office, wearing a porcelain sink. “Entering Twitter HQ – permit that sink in!” Musk tweeted.

During the visit, Musk reportedly told employees he did now not intend to reduce seventy five% of them. The next day, in an apparent try and calm advertisers who are involved that he’s going to permit the platform to fall again into being a honeypot for assholes, the self-described “loose speech absolutist” tweeted that the platform “manifestly can’t become a free-for-all hellscape, in which anything may be said without a consequences!”

Musk additionally explained his rationale for buying the platform: “I didn’t do it due to the fact it would be easy. I didn’t do it to make extra cash. I did it to attempt to help humanity, whom I love.”

The closure of the deal and the firing of pinnacle executives have now not been at once communicated internally to Twitter personnel. One staffer advised BuzzFeed News they discovered approximately the deal ultimate by seeing a tweet from @PopCrave.