Twitter takeover deal closed: Musk is now Twitter boss, fires Indian-origin CEO Agrawal, other top executives
Musk had today's deadline to complete the acquisition face the lawsuit at a court in Delaware, as per the deadline given by the judge.
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New Delhi: Tesla CEO Elon Musk, after showing a lot of "antics" has finally taken over as Twitter boss by completing the $44 billion acquisition deal. Immediately after taking over the helms at Twitter, Musk fired Indian-origin CEO Parag Agrawal, Chief Financial Officer Ned Segal, the company's policy chief Vijaya Gadde and others. Agrawal received $38.7 million, Segal got $25.4 million, Gadde got $12.5 million, and Personette received $11.2 million, said reports. Meanwhile, on Thursday, Musk visited the Twitter headquarters with a sink in his hand, ahead of the micro-blogging platform's takeover deal. He posted a video on Twitter with a caption: "Entering Twitter HQ-- let that sink in!". Musk has also recently changed his profile to 'Chief Twit'.
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
Musk had today's deadline to complete the acquisition face the lawsuit at a court in Delaware, as per the deadline given by the judge. He has raised $13 billion as loan from banks and lenders to go ahead with the takeover deal. Banks signed agreement in April to provide Musk with the debt financing he needed to buy the company. Musk had previously stated that he is "obviously" overpaying to acquire Twitter, however he added that the micro-blogging platform has great potential in the long term.
The tech billionaire has promised to transform Twitter by loosening the service's content moderation rules, making its algorithm more transparent and nurturing subscription businesses, as well as laying off employees.
Watch this space for more on the Musk Twitter Takeover
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