It took seven months, a dropped lawsuit and $44 billion dollars to get Twitter into the hands of its new owner, Elon Musk. The will-they-won’t-they aspect of the purchase grew old quickly. Finally, it’s over.
The deal officially closed yesterday, making Twitter’s ex-owners $44 billion richer. Musk’s first course of action after running the ship was to remove ex-CEO Parag Agrawal, and three other top executives within the company, according to people close to the deal. Since Agrawal’s dismissal, Twitter is without a replacement CEO.
Let that sink in
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
Twitter’s employees were at least a little luckier than their executive counterparts. Rumour suggested that Elon Musk would be doing away with over 75% of Twitter’s staff. On Wednesday, Musk turned up at Twitter’s San Francisco headquarters to finalise Twitter’s purchase. It was here that Musk addressed the rumours, claiming that he would not be firing 75% of the staff.
Which… doesn’t mean much. At the drop of a hat, Musk could fire the entire staff all for some half-baked joke on Twitter.
Now that the deal is complete, it’s only a matter of time before Musk takes the company private. Besides that, we don’t know what Twitter will look like with Elon running things. It could be more of the same or we could see some radical changes to the platform. Only time will tell. Before the deal had officially closed, Musk tweeted a message to advertisers, explaining his reasoning for the buyout.
“I didn’t do it because it would be easy. I didn’t do it to make more money. I did it to try to help humanity, whom I love.” We’ll have to see just how serious Elon is about all of that.
Source: Ars Technica