Elon Musk buys Twitter
Editor/
Elon Musk has reportedly closed his $44bn deal to take Twitter private, according to three people familiar with the matter, bringing an end to one of the most high-profile and dramatic buyout sagas in recent memory.
Twitter’s chief executive, Parag Agrawal, and chief financial officer Ned Segal are no longer with the company, two of the people said, as the world’s richest man now takes the reins. Musk also fired Vijaya Gadde, Twitter’s head of legal, policy and safety, as well as general counsel Sean Edgett, one person said.
Shares of the company will be suspended from trading on the New York Stock Exchange today.
The acquisition comes after months of legal wrangling and puts Musk, a self-described “free-speech absolutist”, at the helm of a platform that is popular among global politicians and relied on by millions of users around the world for news.
Musk has promised to cut jobs and costs at Twitter, while boosting product innovation in an attempt to build a “super app” that incorporates payments, commerce and messaging.
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