Technology

Elon Musk takes control of Twitter after the $44 billion deal officially closed

What next for Twitter under Elon Musk?

Elon Musk has taken control of Twitter after the $44 billion deal was officially closed!

The New York Stock Exchange on Friday stated that trading in Twitter’s shares had been suspended, giving the reason as “merger effective”.

The world’s richest man in the tweet hinted at the takeover by saying, “the bird is freed.

 

What next for Twitter under Elon Musk?

Soon after seizing control of one of the most influential social media platforms in a $44 billion blockbuster deal, Musk fired Twitter CEO Parag Agarwal, policy chief Vijaya Gadde and CFO Nel Segal.

Agrawal, who was appointed as the Twitter CEO in November 2021, will leave a rich man.

As reported, Agrawal is entitled to get $42 million from Twitter if he were terminated within 12 months of a change in control.

Well, major changes are expected in Twitter policies onward, as earlier this week, Musk said that he doesn’t want the platform to become an echo chamber for hate and division.
“Twitter obviously cannot become a free-for-all hell-scape, where anything can be said with no consequences!” he said in a tweet.
Earlier this week, Musk told Twitter employees that he does not plan to cut 75% of the company’s workforce, according to a Bloomberg report.

Meanwhile, in a letter posted to Twitter on Thursday, Musk seeking to calm the fears of advertisers, wrote, “The reason I acquired Twitter is that it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence.”

“Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!” Musk wrote.

“In addition to adhering to the laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences, just as you can choose, for example, to see movies or play video games ranging from all ages to mature,” the letter added.

“Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise,” the new Twitter owner added.

 

 

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