Elon Musk Takes Control Of Twitter, Fires CEO Parag Agrawal

According to reports by US media, Musk has officially taken over Twitter and, according to reports by US media, he has fired top executives.

Elon Musk takes over Twitter and fires CEO Parag Agrawal, top executives

The richest man in the world has fired chief executive Parag Agrawal, as well as the company's chief financial officer and its head of legal policy, trust and safety, the Washington Post and CNBC reported, citing unnamed sources.

These top executives had been sacked after Musk accused them of misleading him and Twitter investors over the number of fake accounts on the social media platform.

CEO Parag had gone to court to hold Elon Musk to the terms of a takeover deal he had tried to escape. These reports came just a few hours before the court gave Musk a deadline to seal the on-and-off deal to purchase Twitter.

According to a report by news agency Reuters, CEO Parag Agrawal and Ned Segal were at the Twitter office at the time they were fired, and both the executives were apparently escorted out by security. However, both the top executives received hefty payouts. According to Insider, Agrawal received $38.7 million, Segal got $25.4 million, Gadde got $12.5 million, and Personette received $11.2 million, according to Insider.

Reuters

The Tesla CEO tweeted on Thursday that he would be buying Twitter. He said, "Twitter cannot become a free-for-all hellscape, where anything can be said with no consequences. In addition to adhering to the laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences, just as you can choose, for example, to see movies or play video games ranging from all ages to mature," Musk wrote to his more than 110 million followers.

Check out the post here:

Dear Twitter Advertisers pic.twitter.com/GMwHmInPAS

¡ª Elon Musk (@elonmusk) October 27, 2022

After the deal was completed, Musk tweeted, saying that the 'bird is freed'.

the bird is freed

¡ª Elon Musk (@elonmusk) October 28, 2022

A picture of Musk socialising at the Twitter coffee shop also started doing the rounds after news about him taking the platform was shared. The man had also changed his bio to 'Chief Twit' a day before the deal was complete.

At Twitter headquarters¡¯ coffee bar, ?@elonmusk? pic.twitter.com/vy5Cw7zttf

¡ª Walter Isaacson (@WalterIsaacson) October 27, 2022

Musk announced in April that he had a 9.2 percent stake in Twitter, making him the company's largest shareholder. According to him, he wanted to clear all the spam accounts, and his lawyers then accused Twitter of not providing proper information. But by May, Musk changed his mind about the purchase, citing concerns that the number of fake accounts on the micro-blogging site was higher than what Twitter claimed.

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