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Elon Musk officially takes over Twitter; fires CEO, CFO, others: Report

Tesla chief executive Elon Musk. (Luis Sinco/Los Angeles Times/TNS)
October 27, 2022

Tesla and SpaceX CEO Elon Musk finalized his $44 billion purchase of Twitter Thursday evening and quickly fired multiple executives, according to people familiar with the matter, The Washington Post reported.

Twitter CEO Parag Agrawal and chief financial officer Ned Segal were among those fired by Musk. He also reportedly fired Vijaya Gadde, head of legal policy, trust, and safety, and Sean Edgett, Twitter’s general counsel.

Hours before his official takeover of the social media giant, Musk tweeted a letter directed at “Twitter Advertisers” which states that he bought Twitter because he believes it’s “important to the future of civilization.”

“The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence,” Musk wrote. “There is currently great danger that social media will splinter into far right wing and far left wing echo chambers that generate more hate and divide our society.”

“In the relentless pursuit of clicks, much of traditional media has fueled and catered to those polarized extremes, as they believe that is what brings in the money, but, in doing so, the opportunity for dialogue is lost,” he continued.

“That is why I bought Twitter. I didn’t do it because it would be easy. I didn’t do it to make more money. I did it to try to help humanity, whom I love,” he added. “And I do so with humility, recognizing that failure in pursuing this goal, despite our best efforts, is a very real possibility.”

Earlier this week, Musk shared a video of himself carrying a sink into Twitter’s headquarters as a gimmick to draw attention to his takeover of the social media giant.

“Entering Twitter HQ – let that sink in!” Musk tweeted along with video of himself carrying a sink into Twitter.

The billionaire also changed his Twitter bio to read “Chief Twit” in a move that could indicate his plans to become CEO of Twitter.

Earlier this year, Musk offered to buy 100 percent of Twitter for $54.20 per share “in cash.” At the time, Musk said the deal was his “best and final offer.”

In an SEC filing submitted at the time, Musk told Twitter Chairman Bret Taylor that he would “unlock” Twitter’s “extraordinary potential.”

Elon Musk has been critical of Twitter’s moderation and permanent ban policies, arguing that it was wrong to ban former President Donald Trump. Musk previously said he would reinstate Trump’s Twitter account if his purchase of the platform goes through.