Elon Musk takes over Twitter with a $44 billion deal
2022-10-28 | Priyanka Chaudhary
Elon Musk has become the new owner of Twitter. The 44 billion dollar deal to acquire Twitter has been completed.
Soon after joining the office, he fired top executives including CEO Parag Agarwal, CFO Ned Segal, and legal affairs and policy chief Vijaya Gadde. Elon Musk accused them of misleading him regarding the number of fake accounts on the platform.
Elon Musk quoted that he wants to defeat spam bots on Twitter. He also said that he would make such algorithms determining how content is presented to its users publicly and also would prevent the platform from becoming a chamber for hate and division.
Elon Musk Twitter Deal
The deal to acquire Twitter started on 4 April when Elon Musk disclosed a 9.2% stake in Twitter, making him its largest individual shareholder. Later, he declined Twitter's offer to join its board. He offered to buy the company instead for $54.20/share and both sides agreed.
After taking over control of Twitter, Mr. Musk tweeted "The bird is freed".
After the completion of the deal, Elon Musk fired Twitter CEO Parag Agrawal.
About Twitter Company
It is an American communications company headquartered in San Francisco, California, USA. It was founded in March 2006 by Jack Dorsey, Noah Glass, Biz Stone and Evan Williams. The company went public in November 2013.
It operates the microblogging and social networking service "Twitter" where users post and interact through messages called "tweets". It has previously launched the Vine short video app and Periscope live streaming service.
About Elon Musk
He is the founder, CEO and Chief Engineer of SpaceX and CEO of Tesla. He is also the founder of The Boring Company, co-founder of Neuralink and OpenAI and President of the Musk Foundation. He has now become the owner of Twitter, Inc.
As of October 2022, his total estimated wealth is $210 billion. As per the Bloomberg Billionaires Index and Forbes Billionaires list, Elon Musk is the wealthiest person in the world. He was elected a fellow of the Royal Society in 2018. He has been listed many times among the Time 100 Most Influential People in the world.
Elon Musk was born on 28 June 1971 in Pretoria, Transvaal, South Africa.