Sunday, November 27th, 2022

Elon Musk takes control of Twitter, fires CEO

Elon Musk takes control of Twitter, fires CEO

By News Linah Mwangi

Elon Musk took control of Twitter and fired its top executives, US media reported late Thursday, in a deal that puts one of the top platforms for global discourse in the hands of the world's richest man.

Musk fired CEO Parag Agrawal and two other executives, according to two people familiar with the decision, however Twitter has not yet commented on the matter.

The move to close the deal, which came a day before a court-imposed deadline to finalize the transaction, caps a tumultuous six-month pursuit in which the billionaire launched his shock bid for Twitter this spring, only to reverse course in July and declare he was withdrawing it.

His swift dismissal of Twitter's top two executives punctuates what is expected to be a period of dramatic change at the social media company. And where Musk — a serial entrepreneur whose companies have disrupted the payments, auto and space exploration sectors — takes Twitter now is anyone's guess.

After Musk assumed control, focus will shift to what actions he may take to revive Twitter, whose growth has sharply slowed in recent years. According to a story published last week in The Washington Post, this might mean firing up to three-quarters of Twitter's staff in the near future. Musk, who has made it clear that he spent too much for Twitter, would be tempted to reduce personnel costs in order to balance the books.

It is also unknown how Musk would alter Twitter's user guidelines. He announced his uninvited bid in April, praising Twitter's "potential to be the platform for free speech around the globe" while emphasizing that the firm "will neither grow nor serve this societal imperative" in its current form.

Related Posts
About Author
Linah Mwangi : Editor Viral News

I write special feature articles

You May Also Like