Elon Musk Officially Owns Twitter After Finalising S$61B Deal, Promptly Fires CEO & Executives

Elon Musk Finalises Twitter Deal For S$61B On 27 Oct

On Wednesday (26 Oct), billionaire Elon Musk carried a sink into the Twitter headquarters ahead of his takeover, telling the public to “let that sink in”.

The next day, he completed the S$61 billion (US$44 billion) deal before firing the CEO and several other top executives.

Elon Musk finalises Twitter deal & fires executives

On Thursday (27 Oct), Elon Musk officially became the new owner of Twitter. His takeover brought the saga that has been going on since April this year to an end.

With his takeover, he dismissed the CEO and senior executives whom he accused of misleading and providing little clarity over his ambitions for the platform, reports Channel NewsAsia (CNA).

Twitter’s CEO, Parag Agrawal, was among those planning to leave as Musk finalised the deal.

Other executives who will leave include the Chief Financial Officer Ned Segal and the head of legal, policy and trust, Ms Vijaya Gadde.

According to Reuters, Agrawal and Segal were in the San Francisco headquarters and were escorted out before the deal was closed.

Agrawal took up CEO position a year ago

After co-founder Jack Dorsey abruptly left his position, Agrawal assumed his role in November 2021.

He had been working for Twitter for almost a decade, most recently serving as its chief technology officer.

Musk’s entry as a major shareholder and vocal critic of the current leadership quickly ended Mr Agrawal’s tenure as CEO.

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