After Months of Delays, Twitter is Now One of Elon Musk's Many Companies

After Months of Delays, Twitter is Now One of Elon Musk’s Many Companies

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.

At Twitter headquarters’ coffee bar, ⁦@elonmusk⁩ pic.twitter.com/vy5Cw7zttf
— Walter Isaacson (@WalterIsaacson) October 27, 2022

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.

https://twitter.com/mmasnick/status/1585799404534976515

Losing her was an incredibly bad move for leadership and democracy. CEO and CFO… I get it. But she was a hero for civil society. https://t.co/n3IzuHb60k
— Jason Kint (@jason_kint) October 28, 2022

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.

Thank you to @paraga, @vijaya, and @nedsegal for the collective contribution to Twitter. Massive talents, all, and beautiful humans each!
— Biz Stone (@biz) October 28, 2022

Truth. @paraga may be a fired ceo but he lifted Elon’s wallet on the way out for shareholders. https://t.co/RPUPAfU9Hv
— Kara Swisher (@karaswisher) October 28, 2022

And ask yourself if someone like Elon even could have made the moves he made to do a hostile takeover of a better leader had been in charge. Some shareholders made money — but to me more accurate, they lost less — but let’s be real
— Christina Warren (@film_girl) October 28, 2022

Firing the whole C-suite isn't surprising; the premise of any leveraged buyout is a belief the company is seriously mismanaged.

But there are indeed very serious risks of harm to others if he slashes too deep too quickly. Chesterton’s fence and all that. https://t.co/bG36tvfazH
— Max Kennerly (@MaxKennerly) October 28, 2022

as elon decapitates the twitter team jack built, my mind went to this hollow thread https://t.co/5ZnfK2RI5s
— David Kaye (@davidakaye) October 28, 2022