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Elon Musk now owns Twitter, Fires CEO and Other Top Executives

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Elon Musk now owns Twitter: Elon Musk has already removed Twitter’s CEO, CFO, head of legal policy, trust, and safety, and general counsel after completing his $44 billion acquisition of the social media business.

Who owns Twitter now?

Elon Musk now owns Twitter after months of haggling, legal battles, verbal scuffles, and nearly going to trial.

Twitter is now formally owned by Elon Musk, the CEO of Tesla and SpaceX. At the originally agreed-upon price of $44 billion, or $54.20 per share, the transaction was completed.

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Elon Musk now owns Twitter

The billionaire was successful in getting $12.5 billion in bank financing for his purchase. A total of $7.1 billion was contributed by additional investors, including co-founder of Oracle Larry Ellison. Unknown is how much Musk was able to raise from outside investors and how much Tesla stock Musk had to sell to cover the remaining shortfall.

How much did Musk buy Twitter for? 

According to Bloomberg, this implies that Twitter is now a privately held corporation that is entirely owned by Musk after he closed the sale in which he paid $54.20 per share in cash for a total of almost $44 billion.

The deal’s completion lifts the uncertainty that has surrounded Twitter’s operations, staff, and stockholders for much of the year. Musk spent months attempting to back out of the agreement after initially agreeing to purchase the business in April, initially expressing worries about the number of bots on the platform and then charges made by a company whistleblower.

Musk and Twitter have avoided a trial that was initially scheduled to happen earlier this month by finalizing the agreement.

Who did Elon Musk sack?

The CEO of Twitter, Parag Agrawal, the CFO, Ned Segal, and the head of legal, Vijaya Gadde, according to reports, were all abruptly sacked earlier on Thursday. According to people with knowledge of the situation, Musk executed the transaction on Thursday, one day ahead of the deadline set by the court, according to the Wall Street Journal.

Regarding the firings, the first is Twitter CEO Parag Agrawal, who assumed the job in November 2021 following co-founder Jack Dorsey’s resignation. Agrawal has worked with Twitter for more than ten years and served as its chief technology officer in the past.

One of the strangest mergers in business history seemed to come to a fitting end with the abrupt firing of key executives and the lack of an official update from Twitter addressing the acquisition.

Elon Musk now owns Twitter

Elon Musk now owns Twitter

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Wilson Tenkoranghttps://wilsontrendit.com
A Medical Biochem Student, blogger, Web Developer, and social media influencer.

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