Elon Musk Takes Control of Twitter, Fires CEO and CFO — Says He Buys Twitter "to Help Humanity"
Tesla and Spacex CEO Elon Musk has completed the acquisition of Twitter Inc. and reportedly fired the company’s CEO and CFO. “The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square,” he said. “There is currently great danger that social media will splinter into far right wing and far left wing echo chambers that generate more hate and divide our society.” Elon Musk Takes Over Twitter
Tesla CEO Elon Musk has completed his $44 billion acquisition of Twitter Inc. and has changed his Twitter profile description to “Chief Twit.” On Thursday night, he tweeted: The bird is freed.
Immediately after the deal closed, Musk reportedly fired Twitter CEO Parag Agrawal, CFO Ned Segal, and Vijaya Gadde, the social media platform’s head of legal affairs and chief content moderator. Gadde headed up the team at Twitter that made the decision to ban former U.S. President Donald Trump after the Capitol riot in 2021.
On Thursday, Musk tweeted explaining his motivation for acquiring Twitter. The billionaire detailed: “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.”
He continued, “There is currently great danger that social media will splinter into far right wing and far left wing echo chambers that generate more hate and divide our society,” elaborating: That is why I bought Twitter. I didn’t do it because it would be easy. I didn’t do it to make more money. I did it to try to help humanity, whom I love.
Addressing Twitter advertisers, Musk explained: “Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!”
Emphasizing that “It is essential to show Twitter users advertising that is as relevant as possible to their needs. Low relevancy ads are spam, but highly relevant ads are actually content,” the new Twitter boss concluded: Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise.
Binance CEO Changpeng Zhao (CZ) confirmed Thursday that his company helped fund Musk’s Twitter acquisition, tweeting: “Our intern says we wired the $500 million 2 days ago, probably just as I was being asked about Elon/Twitter.” Binance is among the 18 companies that committed to helping Musk fund the deal.
The Tesla CEO went to Twitter’s headquarters on Wednesday with a sink to close the deal. “Entering Twitter HQ – let that sink in!” he tweeted. According to Bloomberg, Musk told Twitter employees during his visit that he is not planning to lay off 75% of the staff. Tags in this story Elon Musk, Elon Musk acquired Twitter, Elon Musk sink, Elon Musk takes over Twitter, elon musk twitter, Tesla CEO, Twitter CEO, Twitter leadership
Do you think Twitter will be a better platform under the leadership of Elon Musk? Let us know in the comments section below. Kevin Helms
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Nigerian Central Bank Says It Will Release New Banknotes in December — Naira Falls to New Low FEATURED | 1 hour ago Visa Files Trademark Applications Covering a Range of Cryptocurrency Products, Including Crypto Wallet FEATURED | 5 hours ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleXbox Boss Phil Spencer Calls Today’s Metaverse a ‘Poorly Built Video Game’ Next articleVisa Files Trademark Applications Covering a Range of Cryptocurrency Products, Including Crypto Wallet Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days
Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin