Elon Musk Officially Takeover Twitter for $44 Billion, Fires CEO and CFO

Elon Musk Officially Takeover Twitter for $44 Billion, Fires CEO and CFO

Elon Musk, the CEO of Tesla and SpaceX has officially completed the acquisition of the social media platform Twitter, Musk started his tenure at the company by firing the top managers.

According to Reuters Elon Musk fired the CEO of Twitter, Parag Agrawal, CFO Ned Segal, and Vijaya Gadde the head of legal and policy, he accused them of misleading him and investors over the number of spam accounts on the social media platform.

Agrawal and Segal were in the company headquarters in San Franciso when the deal closed, they were escorted out of the company.

The billionaire had until Oct. 28 to complete his $44 billion acquisition of the social media platform or get sued to complete the company’s purchase.

In an open letter to Twitter advertisers Elon Musk gave a details explanation for buying Twitter.

Twitter shares ended trade on Thursday in New York up 0.3% at $53.86, Twitter stock will be delisted from the New York Stock Exchange on Friday.


Other News

NFT marketplace OpenSea has raised another $100 million.
News

NFT marketplace OpenSea has raised another $100 million.

Crypto Exchange FTX valued at $18B in $900M Funding Round.
News

Crypto Exchange FTX valued at $18B in $900M Funding Round.

© 2023 Merklepal