After a long legal battle, the richest person in the world has finally taken over one of the world’s most popular social media platforms. Elon Musk is the CEO of Tesla, SpaceX, the Boring Company and now, with the latest addition to his portfolio, Twitter.
He paid USD44 billion for Twitter and today, he officially assumed control of the company and he also tweeted about it.
The Verge reported that he also exercised his power as the new owner of Twitter by firing Parag Agrawal, Twitter’s CEO, Ned Segal, chief financial officer, Vijaya Gadde, policy chief, Sean Edgett, general counsel and Sarah Personette, chief customer officer.
But they received a golden handshake with Agrawal receiving USD38.7 million for his departure, while the rest received between USD11 million to USD25 million.
Besides that, Elon also wanted to fire 75% of Twitter’s staff, around 5,600 employees, leaving over just 2,000 people to run the company. But later on he said he won’t do it.
He is also going to get rid of permanent bans on users because he doesn’t believe in banning users forever. This could mean Donald Trump, the former President of the United States who was banned from Twitter in January 2021, could be making a return.
He will be sharing his plan for Twitter in the coming days. The company is now entering a new chapter and we are curious as to what Elon Musk is going to do with his new acquisition.
