Elon Musk Fires Several Top Execs After Purchasing Twitter for Billions

'the bird is freed'

Elon Musk has purchased Twitter for $44 billion, and one of his first moves as CEO was terminating a handful of top executives.

CNN reports that upon taking over the social media platform, Musk fired CEO Parag Agrawal along with two other executives—Twitter's head of legal policy, trust, and safety Vijaya Gadde and CFO Ned Segal. Additionally, Twitter's general counsel Sean Edgett was also let go. Twitter did not offer a comment to the outlet.

Per a report from The Washington Post, they were reportedly taken away from the building via shuttle.

The Tesla founder seemingly acknowledged his takeover of the platform by tweeting, “the bird is freed.” 

He also changed his profile description to read "Chief Twit" and posted a video of himself entering the Twitter HQ carrying a sink. "Let that sink in," part of the caption read. 

The acquisition puts an end to months-long negotiations between the SpaceX CEO and the company. Musk initially agreed to buy the company in April but pulled out of the deal shortly after citing several concerns, including the number of bots on the platform.

Twitter threatened a legal battle that Musk was reportedly informed he would not win, which prompted him to purchase the company at the price agreed upon in April: $44 billion at $54.20 per share.

The Guardian noted that trading on Twitter’s stock was halted as news of the sale drove up the share price roughly 13%.

Related: How Much Is Elon Musk Worth After the Twitter Deal?

Musk has previously revealed his plans for Twitter like embracing more “free speech” and undoing permanent bans on controversial accounts, which includes the profile of former President Donald Trump.

Shortly after the sale, The New York Times reported that Twitter also filed a Form 25 document asking to remove shares from the New York Stock Exchange, the first move towards making the company private under Musk, ending its nine-year run as a public company. 

More layoffs are almost a sure thing as The Washington Post obtained internal documents that revealed Musk’s plans to fire nearly 75 percent of the company’s workforce, roughly about 7,500 workers.

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