Elon Musk completes $44bn Twitter takeover

The world’s richest man, Elon Musk, has completed his $44bn (£38.1bn) takeover of Twitter, according to US media and an investor in the firm.

He tweeted “the chook is freed,” in an obvious reference to the deal ultimate.

A range of top executives, such as the boss, Parag Agrawal, have reportedly been fired.

It brings to a near a saga that saw Twitter go to court docket to keep the multi-billionaire to the phrases of a takeover deal that he had attempted to get away.

Twitter has no longer yet confirmed the takeover, however an early investor in the business enterprise instructed the BBC that the deal had been finished.

Mr Musk, a self-styled “unfastened speech absolutist”, has been important of Twitter’s moderation guidelines and the news might be greeted with combined emotions with the aid of Twitter users and personnel.

Many humans on the right of US politics will celebrate the exit of Mr Agrawal as leader govt. They view humans like Mr Agrawal, and his predecessor, Jack Dorsey, as liberals who are curtailing unfastened speech.

They additionally assume that underneath their stewardship, Twitter has censored conservative voices – an accusation that Twitter denied.

Mr Agrawal, chief monetary officer Ned Segal, and the company’s top felony and coverage executive, Vijaya Gadde, are not with the corporation, consistent with US media reviews.

Mr Agrawal and Mr Segal were escorted out of Twitter’s San Francisco headquarters after the deal closed, the Reuters news enterprise mentioned.

Twitter co-founder Biz Stone thanked Mr Agrawal, Mr Segal and Ms Gadde for his or her “collective contribution” to the commercial enterprise.

Meanwhile, Bret Taylor – who had served as Twitter’s chairman due to the fact that closing November – updated his LinkedIn profile to indicate that he was not in the publish.

How the world’s richest man or woman offered Twitter
A uncommon perception into Elon Musk’s troubled early life
The social media platform’s shares can be suspended from buying and selling on Friday, in line with the New York Stock Exchange’s website.

Mr Musk stated he sold the social media platform to assist humanity and he desired “civilisation to have a commonplace virtual metropolis rectangular”.

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

He also modified his Twitter profile to examine “Chief Twit”.

Long road to a deal

Mr Musk’s early investments in Twitter to begin with escaped public attention. In January, he commenced making ordinary purchases of stocks, so that by using the center of March he had accumulated a five% stake in the company.

In April, he was revealed as Twitter’s largest shareholder, and via the quit of the month, a deal became subsequently reached to shop for the enterprise for $44bn.

He stated he deliberate to easy up junk mail money owed and hold the platform as a venue totally free speech.

But by means of mid-May Mr Musk, a prolific Twitter consumer, had all started to alternate his mind about the acquisition, citing worries that the variety of faux debts at the platform was higher than Twitter claimed.

In July, he stated he now not wanted to collect the organization. Twitter, but, argued the billionaire was legally devoted to the acquisition and eventually filed a lawsuit to preserve him to the deal.

In early October, Mr Musk revived his takeover plans for the business enterprise on circumstance that legal proceedings have been paused.

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Written by Abu Bakar

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