Elon Musk completes deal to takeover Twitter, fires CEO & other top executives

Elon Musk has just completed his deal to acquire Twitter for USD 44PHP 2,582INR 3,729EUR 42CNY 320 billion.

According to The Wall Street Journal, Reuters, and other sources, Musk has also laid off multiple top executives of Twitter such as CEO Parag Agrawal, CFO Ned Segal, top legal and policy executive Vijaya Gadde, and general counsel Sean Edgett.

This comes after Musk visited Twitter headquarters carrying a sink and meeting with the staff at Twitter.

Reports also stated that Agrawal and Segal were in Twitter headquarters when the deal closed and were escorted out.

Closing the takeover deal of Twitter ends a tumultuous time for both Musk and Twitter with constant back and forth of whether or not Musk would push through with his acquisition.

Parag Agrawal and Ned Segal

Further, Musk had previously attempted on abandoning the deal due to the matter of spam bots and fake accounts on the social media platform with Musk accusing the top executives at Twitter of misleading him.

After Twitter had sued Musk in Delaware, Musk agreed to continue with his acquisition of Twitter for USD 44PHP 2,582INR 3,729EUR 42CNY 320 billion at USD 54.20PHP 3,181INR 4,593EUR 52CNY 394 per share.

With Elon Musk now owning twitter, his specific plans for the company still remain unclear, as well as who shall fill in the shoes of the top executives at Twitter.

Most especially with previous reports of Musk’s plans to cut jobs at Twitter by as much as 75% and with other reports saying that Musk had retracted his statement and doesn’t plan to lay off as many employees.