Saturday, November 26, 2022

Elon Musk Formally Takes Over Twitter, Fires Several Top Executives

Elon Musk has formally taken over Twitter and instantly sacked numerous key executives, according to a report.

The company’s general attorney, Sean Edgett, was also fired.

On April 14, Musk stated in a securities filing that he lacked trust in Twitter’s management.

According to research firm Equilar, which examined the deal’s financials earlier this year, Agrawal, who frequently sparred with Musk over the number of Twitter followers, will walk away with $42 million.

His overall salary for 2021 was $30.4 million, the majority of which came from stock awards.

Gadde, who took in $17 million in 2021, reportedly broke down in tears when Musk’s $44 billion buyout was first revealed earlier this year.

Musk has publicly criticized Twitter’s existing leadership team – in particular, attacking their policies on content moderation and censorship. He has also sparred with them over data on how many accounts were bots or spam.

The Twitter executives were hastily shuttled from the building, sources said.

Earlier on Thursday, Musk said he was buying the platform to help humanity and that he didn’t want it to become a “free-for-all hellscape.”

“The reason I acquired Twitter is because 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,” Musk wrote.

He continued: “There is currently great danger that social media will splinter into far right and far left-wing echo chambers that generate more hate and divide our society.”

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