On Thursday, Elon Musk became the owner of Twitter Inc., ousting key executives and offering a scant explanation of how he will carry out the ambitious plans he has stated for the significant social media network.
Tesla Inc.’s CEO has stated that, even as he curbs censorship, he wants to “fight” spam bots on Twitter, make the algorithms that determine how information is exposed to its users public, and stop the social media site from becoming an echo chamber for hate and division.
Musk, however, has not provided specifics on how he intends to do all of this or who would lead the company. He has stated that he intends to make employment cuts, which has caused the 7,500 or so employees of Twitter to worry about their future.
On Thursday, he added that he bought quick messaging platform “to attempt to benefit humanity, whom I love,” rather than in order to increase his financial gain.
According to persons with knowledge of the situation, Musk fired Twitter’s CEO Parag Agrawal, CFO Ned Segal, and head of law and policy Vijaya Gadde.
He had claimed that they had misled him and Twitter’s investors over the prevalence of phoney accounts on the social media site.
When the agreement was finalized, Agrawal and Segal were present at Twitter’s San Francisco offices and were led out by an escort, the sources continued.
Requests for a response from Twitter, Musk, and the executives were not immediately fulfilled.
The closing price of Twitter shares in New York on Thursday was $53.86, up 0.3 percent from the deal price of $54.20 per share. On Friday, the stock will be taken off the New York Stock Exchange’s list.
To read our blog on “Purchase Elon’s perfume and assist him in purchasing Twitter,” click here.