Elon Musk Completes $44-Billion Twitter Deal, Fires CEO Parag Agrawal

The news came hours before the court-appointed deadline for Musk to seal his deal to purchase the social media platform
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It’s official! Elon Musk finally completed the $44 billion Twitter deal on Thursday, firing one of its top executives, CEO Parag Agrawal in the wake. According to a source familiar with the news, a few other top executives have been asked to leave, which include the head of legal, policy and trust Vijaya Gadde, CFO Ned Segal, and general counsel Sean Edgett, who had been with Twitter since 2012. The person wished to remain anonymous as the information isn’t public yet. 

The news came in hours before the court-appointed deadline for Musk to seal his deal on the social media platform. Musk, in a Twitter thread, said, “…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”.

Source: Twitter

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Agrawal had stepped into the role of CEO in November, with the unexpected resignation of co-founder Jack Dorsey. The executive had been with Twitter for almost a decade –  initially as a chief technology officer – but his run as CEO had been quickly disrupted by Musk’s arrival as a major shareholder. 

Meanwhile, Musk has denied a report that suggested his plans to slash 75% of the workforce. The Tesla owner said that he wants to “defeat” spam bots on Twitter, making algorithms that determine how content is presented to its users. He also said that this would prevent Twitter from becoming a chamber for hate and division.

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Bhuvana Kamath
I am fascinated by technology and AI’s implementation in today’s dynamic world. Being a technophile, I am keen on exploring the ever-evolving trends around applied science and innovation.

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