{"id":504438,"date":"2022-10-28T04:05:18","date_gmt":"2022-10-28T01:05:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/elon-musk-completes-44b-twitter-takeover-begins-firing-execs\/"},"modified":"2022-10-28T04:05:18","modified_gmt":"2022-10-28T01:05:18","slug":"elon-musk-completes-44b-twitter-takeover-begins-firing-execs","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/elon-musk-completes-44b-twitter-takeover-begins-firing-execs\/","title":{"rendered":"#Elon Musk completes $44B Twitter takeover, begins firing execs"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a34943d45fa7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a34943d45fa7\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/elon-musk-completes-44b-twitter-takeover-begins-firing-execs\/#%E2%80%9CElon_Musk_completes_44B_Twitter_takeover_begins_firing_execs%E2%80%9D\" >&#8220;Elon Musk completes $44B Twitter takeover, begins firing execs&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CElon_Musk_completes_44B_Twitter_takeover_begins_firing_execs%E2%80%9D\"><\/span>&#8220;Elon Musk completes $44B Twitter takeover, begins firing execs&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Elon Musk finally completed his $44 billion <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> takeover deal, firing the company\u2019s CEO and financial chief and ending a lengthy tug-of-war with its board of directors just before a key deadline, according to a source close to the situation.<\/p>\n<p>Musk took the struggling social network private late Thursday, ousting Chief Executive\u00a0Parag Agrawal\u00a0and Chief Financial Officer\u00a0Ned Segal, according to the source, who spoke on condition of anonymity. <\/p>\n<p>Bloomberg <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-28\/musk-is-said-to-take-twitter-ceo-role-reverse-life-bans-l9s05xdv?srnd=premium\">reported<\/a> early Friday that Musk plans to take over as Twitter\u2019s CEO \u2014 at least on an interim basis.<\/p>\n<p>It wasn\u2019t immediately clear who would replace Segal as CFO.<\/p>\n<p>Agrawal and Segal were in Twitter\u2019s San Francisco headquarters when the deal closed and were escorted out, sources said. Musk had accused them of misleading him and Twitter investors over the number of fake accounts on the social media platform.<\/p>\n<p>Musk also fired Vijaya Gadde, Twitter\u2019s top legal and policy executive, and Sean Edgett, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> counsel, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/elon-musk-completes-twitter-takeover-11666918031?mod=hp_lead_pos1\">according to the Wall Street Journal<\/a>.<\/p>\n<p>Gadde had been criticized by Musk for blocking links to the\u00a0New York Post\u2019s coverage of Hunter Biden\u2019s laptop. She also made the decision to<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.axios.com\/2021\/01\/07\/facebook-twitter-muzzle-trump-capitol\"> permanently ban then-President Donald Trump<\/a> from the site after the January 2021 attack on the US Capitol, according to Axios.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"682\" height=\"1024\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/elon-musk-621.jpg?w=682\" alt=\"Elon Musk finally completed his $44 billion Twitter takeover deal, firing the company's CEO and financial chief.\" class=\"wp-image-24434268\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/elon-musk-621.jpg?quality=75&amp;strip=all&amp;w=1023 1023w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/elon-musk-621.jpg?quality=75&amp;strip=all&amp;w=682 682w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/elon-musk-621.jpg?quality=75&amp;strip=all&amp;w=341 341w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/elon-musk-621.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 682px) 100vw, 682px\"\/><figcaption>Elon Musk finally completed his $44 billion Twitter takeover deal, firing the company\u2019s CEO and CFO, Ned Segal (pictured).<br \/>\n<\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-completes-takeover-640.jpg?w=1024\" alt=\"Twitter's Acting General Counsel Sean Edgett\" class=\"wp-image-24434721\" width=\"618\" height=\"411\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-completes-takeover-640.jpg?quality=75&amp;strip=all&amp;w=1233 1236w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-completes-takeover-640.jpg?quality=75&amp;strip=all&amp;w=925 927w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-completes-takeover-640.jpg?quality=75&amp;strip=all&amp;w=618 618w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-completes-takeover-640.jpg?quality=75&amp;strip=all&amp;w=308 309w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-completes-takeover-640.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\"\/><figcaption>Twitter\u2019s Acting General Counsel Sean Edgett was among those who Musk fired. <\/figcaption><figcaption><span class=\"credit\">Andrew Harnik\/AP<\/span><\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-completes-takeover-639.jpg?w=1024\" alt=\"Vijaya Gadde\" class=\"wp-image-24434720\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-completes-takeover-639.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-completes-takeover-639.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-completes-takeover-639.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Chief legal officer Vijaya Gadde was also fired. <\/figcaption><figcaption><span class=\"credit\">Martina Albertazzi\/Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>Soon after news of Musk\u2019s Twitter acquisition broke, Bloomberg News also reported that he\u2019s expected to reverse lifetime bans to past users of the social media platform. <\/p>\n<p>Musk has previously voiced his opposition to Twitter\u2019s policy of shutting out accounts \u2014 especially that of former President Donald Trump. <\/p>\n<p>\u201cPermanent bans should be extremely rare and really reserved for accounts that are bots, or scam, spam accounts \u2026 I do think it was not correct to ban Donald Trump,\u201d Musk said in May. <\/p>\n<p>Reps for Musk and Twitter officials couldn\u2019t immediately be reached for comment.<\/p>\n<p>Musk, who also owns SpaceX, took to Twitter shortly after the deal broke to post images of his Falcon rocket launch.<\/p>\n<p>The mogul plans to hold a companywide town hall at Twitter\u2019s San Francisco headquarters Friday.<\/p>\n<p>The agreement between Musk\u2019s legal team and Twitter\u2019s board was reached less than a day before the 5 p.m. Friday deadline imposed by Delaware Chancery Court Judge Kathaleen McCormick. Without a deal, Musk and Twitter would have clashed on opposite sides of a November trial.<\/p>\n<p>Under the deal\u2019s terms, Musk will buy Twitter at the originally-agreed price of $54.20 per share. Musk has vowed to take the company private and reshape the platform with an emphasis on free speech.<\/p>\n<p>Twitter stock closed Thursday at $53.70 and the company\u2019s shares will be suspended from trading on Friday, the New York Stock Exchange\u2019s website showed.<\/p>\n<p>Agrawal, who replaced Twitter founder Jack Dorsey as CEO last November, is expected to walk away with a $42 million payout. Segal will reportedly pocket $25.5 million, while Dorsey stands to rake in nearly $1 billion.<\/p>\n<p>Musk signaled throughout the week that he intended to finalize the takeover deal. The eccentric billionaire changed his Twitter bio to \u201cChief Twit\u201d and posted a video of himself barging into Twitter\u2019s San Francisco headquarters carrying a sink.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"\/>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"\/>\n<p>Musk\u2019s involvement has renewed hand-wringing from Twitter employees who fear he will enact sweeping layoffs and other cost-cutting measures while reshaping the company\u2019s business.<\/p>\n<p>The Tesla boss took steps to assure skeptics. During his office visit, Musk said he had no intention of slashing 75% of Twitter\u2019s workforce upon taking control, as the Washington Post had reported.<\/p>\n<p>Musk <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1585619322239561728\">also posted a lengthy message<\/a> to Twitter\u2019s advertisers, writing that he had no intention of turning the social media platform into a \u201cfree-for-all hellscape.\u201d Critics had suggested that Musk\u2019s aggressive stance on free speech would enable extremism voices to thrive on the platform.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"556\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-twitter-05.jpg?w=1024\" alt=\"Elon Musk\" class=\"wp-image-24412853\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-twitter-05.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-twitter-05.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-twitter-05.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Elon Musk shared a video of his entrance on his Twitter account.<\/figcaption><figcaption><span class=\"credit\">Twitter \/ @elonmusk<\/span><\/figcaption><\/figure>\n<p>\u201cThe 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,\u201d Musk said.<\/p>\n<p>Musk\u2019s co-investors, including Oracle co-founder Larry Ellison and Saudi Prince Alwaleed bin Talal, are contributing $7.1 billion toward the deal. Banks including Morgan Stanley and Bank of America are covering $13 billion in debt financing.<\/p>\n<p>During Tesla\u2019s earnings call earlier this month, Musk admitted that he was \u201cobviously overpaying\u201d to buy the firm, but added he felt the \u201clong-term potential for Twitter is an order of magnitude greater than its current value.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/elon-musk-twitter-6.jpg?w=1024\" alt=\"Elon Musk\" class=\"wp-image-24341922\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/elon-musk-twitter-6.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/elon-musk-twitter-6.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/elon-musk-twitter-6.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Elon Musk is expected to cut costs after taking over Twitter.<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>While Musk\u2019s long-term plans for Twitter are still murky, the executive has called the company an \u201caccelerant\u201d for his goal of creating an \u201ceverything <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>\u201d called X. The app is widely expected to mirror the Tencent-owned social media app WeChat, which offers a wide array of services ranging from payments to food delivery and ride-sharing.<\/p>\n<p>Earlier this month, Musk said the acquisition of Twitter \u201cprobably accelerates X by 3 to 5 years, but I could be wrong.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-twitter-03.jpg?w=1024\" alt=\"Twitter office\" class=\"wp-image-24428140\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-twitter-03.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-twitter-03.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/musk-twitter-03.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Twitter\u2019s headquarters is based in San Francisco.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>The closed deal followed a months-long saga that began in April when Musk disclosed that he had taken a sizable stake in Twitter. By April, Twitter\u2019s board had accepted Musk\u2019s offer to buy the company for $54.20 per share, or $44 billion.<\/p>\n<p>Musk later attempted to back out of the agreement, citing concerns about the number of spam bots within Twitter\u2019s user base and accusing the company of withholding key information about the issue.<\/p>\n<p>In July, Twitter\u2019s board sued Musk in Delaware Chancery Court in an effort to enforce the original $44 billion deal by court order. As the trial approached, Musk reversed course again and signaled that he would honor the original agreement.<\/p>\n<p><em>With Post wires<\/em>\n                        <\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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Musk took the struggling social network&#8230;<\/p>\n","protected":false},"author":1,"featured_media":504439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/elon-musk-index.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[134652,39394,70584,4976,70359,10401],"class_list":["post-504438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-10-27-22","tag-elon-musk","tag-mergers-acquisitions","tag-social-media","tag-stocks","tag-twitter"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/504438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=504438"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/504438\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/504439"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=504438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=504438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=504438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}