Elon Musk has officially bought Twitter. “The bird is now free,” the billionaire tweeted, referring to the social network’s mascot. After months of hesitation and sensational reversals, Elon Musk is the new owner of Twitter.
As a first step, Musk fired the company’s four key executives, including the former CEO Parag Agrawal – who thus ended his mandate less than one year after taking office.
In total, the acquisition will cost $44 billion, partly financed by a few co-investors (including Binance And Squoia Capital). Elon Musk has already changed his profile biography to “Chief Twit”, as he appeared at Twitter HQ with a sink a few days ago.
The purge of the old guard: As a first move, Elon Musk torpedoed the four top managers of the social network. In addition to Parag Agrawal, Ned Segal, Vijaya Gadde and Sean Edgett, former CFO, former #1 in the legal department and former Twitter General Counsel, were also fired.
Who will replace Agrawal? The question is still unanswered, but it is likely that Elon Musk will at least initially play the role of Twitter CEO ad interim.
Elon Musk then turned to the… advertisers from Twitter, those are the companies that, by buying ad space on the social network, in fact enable its survival. “Twitter will not become a place where total anarchy will reign,” he said, adding that he bought the social network not because it is interested in economic returns, but because it intends to guarantee its role as a free virtual square. , without censorship.
Source: Lega Nerd