Even after a seven-month tussle, Elon Musk was bound to finalise buying Twitter. He first showed interest in April this year putting the social networking site’s worth at $44 billion. He has now taken it private.
Early this week, the Tesla CEO shared a video of him entering Twitter’s Headquarters and even changing his Twitter profile bio to “Chief Twit” hinting he had finally taken over.
Elon Musk is expected to fire off some employees but not the 75% that was expected. He has already fired top executives including CEO Parag Agrawal, Chief Financial Officer Ned Segal, General Counsel Sean Edgett and Twitter Legal Head Vijaya Gadde. The latter was responsible for deplatforming Donald Trump.
With Elon taking over, Twitter will have now had three different CEOs in the past three years.
Segan and Parag will receive $25 million and $39 million respectively in terms of severance.
There has been mixed reaction, especially with the exit of Parag.
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