Elon Musk has taken over the microblogging platform Twitter, reports CNBC. The acquisition took place on Thursday evening, i.e., on October 27, 2022, a day after Musk entered the company’s San Francisco headquarters with a bathroom sink in his hand. Apparently, Musk finalised the deal earlier this week, walked into the Twitter HQ, talked to a bunch of people, and took over the operations immediately. As of October 28, 2022, Musk’s Twitter bio reads “Chief Twit.”
Earlier today, the SpaceX and Tesla CEO tweeted, “the bird is freed,” a nod to his acquisition of Twitter that, as per him, will liberate the platform into a “town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence.”
In his first move as the owner of Twitter Inc., Musk fired three of the company’s top executives, including the CEO Parag Agrawal, who was trolled for his clarification related to the spam accounts earlier this year. Twitter’s CFO Neg Segal and head of legal Vijaya Gadde were laid off. The readers need to know that Musk plans to oust nearly 75% of Twitter’s employees.
Meanwhile, it is being speculated that new leadership could bring back the Twitter accounts that were banned in the past, including that of former US president Donald Trump. Regarding financing for the $44 billion deal, the CNBC report also mentions that Musk has secured backing from top investment banking firms, tech CEOs and other venture capitalists.
In the past, Musk has said that he wants to revolutionalise Twitter into a Super app and reduce the number of fake accounts on the platform. Now that he owns the platform, Musk is expected to make several changes to how the company functions internally and how people use the app, which could include a new content distribution system.
A Delaware judge gave Musk and Twitter until October 28, 2022, to finalise the deal, failing which both parties would have to attend a trial in November. While Musk was reluctant to go on with his offer of $44 billion, he changed his mind at the beginning of October, asking Twitter to take back the case against him. Now that Musk is in charge of the microblogging platform, the whole world is excited to see what changes he makes to the platform and how users benefit from it.