Elon Musk Buys Twitter, Fires Twitter CEO Parag Agrawal, Other Top Executives

Elon Musk Buys Twitter, Fires Twitter CEO Parag Agrawal, Other Top Executives

Boluwatife Adedokun


The World richest man, Elon Musk has purchased the micro-blogging site known as Twitter and has sacked Parag Agrawal , the former owner of Twitter and some other top executives of the micro-blogging sites.


Following the purchase of the site with $44 billion, the executives were fired on Thursday including Ned Segal, the Chief financial officer, Vijaya Gadde, the top legal policy executive, and Sean Edgett, the general counsel of Twitter since 2012.



Elon Musk paid money to acquire the platform before the end of the court-imposed deadline of October 28.


Mr Musk according to reports by Washington Post have informed the investors that he would sack nearly 75 percent of the company’s 7,500 workers.


However, Twitter had disclosed to it’s staff that no plans have been made for the company-wide layoffs.


Elon Musk while speaking in a letter on Thursday said he does not want the platform to become a “free-for-all-hellscape where anything can be said with no consequences.”


He has said he will reverse the permanent bans of accounts previously removed from the platform for violating its rules, including former President Donald Trump’s.


He said, “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,” he tweeted. “Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise … Let us build something extraordinary together.”


Mr Musk has earlier agreed to buy the micro-blogging site at $54. 20 per share, the money he promised to pay after the battle in coit over the money.


Elon Musk had attempted to back out of the deal by officially notifying an attempt to terminate the agreement in July.


Meanwhile, Twitter approached the court in July, asking it to compel him to complete the deal.


“Musk refuses to honour his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests,” Twitter said in the suit. “Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away.”


Mr Musk has accused Twitter of failing to disclose information about spam bots, known as fake accounts, on the platform. He maintained that he did not believe the company’s public statements that roughly five per cent of its active users were bots.


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