Elon Musk Buys Twitter, Fires CEO and CFO
Elon Musk
Photo:
carina johansen/NTB/Agence France-Presse/Getty Images
Elon Musk
completed his takeover of
Twitter Inc.
TWTR 0.66%
Thursday, according to people familiar with the matter, capping an unusual corporate takeover battle and setting up one of the world’s most influential social-media platforms for potentially sweeping change.
Mr. Musk fired Chief Executive
Parag Agrawal
and Chief Financial Officer
Ned Segal
after the deal closed, the people said. Spokespeople for Twitter didn’t comment.
It wasn’t immediately clear who would step into those top positions. CNBC previously reported the firings.
Mr. Musk completed the deal a day before a court-imposed deadline to complete his $44 billion acquisition of Twitter or face the prospect of a Delaware trial over the deal’s future.
There were signs this week indicating that Mr. Musk was moving closer to acquiring the social-media platform by Friday’s 5 p.m. deadline. Banks started sending money backing the deal, The Wall Street Journal reported. Mr. Musk also has changed his Twitter bio to “Chief Twit,” showed himself walking into the San Francisco headquarters of the social-media platform, and issued a statement on Twitter explaining his vision for the site to advertisers.
Closing the deal ends a monthslong saga of whether Mr. Musk would or wouldn’t purchase the company. The deal also would put one of the world’s most prominent social-media platforms under the control of the world’s richest person, with implications for the future of online discourse.
(More to come.)
Write to Alexa Corse at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Elon Musk
Photo:
carina johansen/NTB/Agence France-Presse/Getty Images
Elon Musk
completed his takeover of
Twitter Inc.
TWTR 0.66%
Thursday, according to people familiar with the matter, capping an unusual corporate takeover battle and setting up one of the world’s most influential social-media platforms for potentially sweeping change.
Mr. Musk fired Chief Executive
Parag Agrawal
and Chief Financial Officer
Ned Segal
after the deal closed, the people said. Spokespeople for Twitter didn’t comment.
It wasn’t immediately clear who would step into those top positions. CNBC previously reported the firings.
Mr. Musk completed the deal a day before a court-imposed deadline to complete his $44 billion acquisition of Twitter or face the prospect of a Delaware trial over the deal’s future.
There were signs this week indicating that Mr. Musk was moving closer to acquiring the social-media platform by Friday’s 5 p.m. deadline. Banks started sending money backing the deal, The Wall Street Journal reported. Mr. Musk also has changed his Twitter bio to “Chief Twit,” showed himself walking into the San Francisco headquarters of the social-media platform, and issued a statement on Twitter explaining his vision for the site to advertisers.
Closing the deal ends a monthslong saga of whether Mr. Musk would or wouldn’t purchase the company. The deal also would put one of the world’s most prominent social-media platforms under the control of the world’s richest person, with implications for the future of online discourse.
(More to come.)
Write to Alexa Corse at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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