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The considered richest man in the world became the owner of the social network on the night of Thursday, October 27, after firing the former directors, according to US media reports. The sources said former Twitter CEO Parag Agrawal and chief financial officer Ned Segal have left the company’s San Francisco headquarters “and won’t be coming back.”
Just a few hours after announcing that he would buy Twitter, Elon Musk took control of the social network and made immediate layoffs. The announcement was released by US media citing anonymous sources, including The New York Times, The Washington Post and .
The news came even before it was known if all the necessary paperwork for the purchase for 44,000 million dollars had already been done, or at least had already been signed.
#UPDATE Elon Musk has taken over Twitter, US media reports, hours before a deadline to signal a deal to buy the firm
He has fired chief executive Parag Agrawal, who went to court to hold the billionaire to the terms of a deal he tried to escape, the Washington Post and CNBC say pic.twitter.com/YRp6R98nFz
— AFP News Agency (@AFP) October 28, 2022
As Twitter’s new owner, his first move was to fire CEO Parag Agrawal, CFO Ned Segal, and CEO Vijaya Gadde. Chief Legal and Policy Officer Vijaya Gadde; and the firm’s lead attorney, Sean Edgett, were also fired.
Of all the executives, at least one was escorted by members of security outside the headquarters in San Francisco and The statements were not immediately released to the press due to the sensitive nature of the personnel movements.
The sudden changes also occur just a few hours before the deadline set by a Delaware judge that forced the parties to close the agreement on Friday, October 28, otherwise, she would order the scheduling of a trial and a possible fine for the tycoon.
Musk earlier Thursday announced that he confirmed the purchase of the social network, saying he was doing so “for the future of civilization.” Previously, he had also visited the Twitter facilities and had asked the platform’s engineers not to make “any changes to the code” of the application so that the contract remained in the agreed terms.
The New York Stock Exchange is not expected to list Twitter shares for Friday, October 28, due to the formalization of the agreement.
With local media, EFE and AP
