Tesla CEO Elon Musk has finally completed the deal to buy Twitter, paying $44 billion for it. In his blog, he wrote, "The bird is free." Before that, he had introduced himself on the social media as the "Chief Twit."
As the new owner of Twitter, Musk first fired several senior executives and brought his engineers from Tesla into the headquarters so they could inspect Twitter's code. And he promised not to fire 75 percent of the employees.
FOX Business, citing its verified sources, reports that Musk fired Twitter CEO Parag Agrawal, CFO Ned Segal, and head of legal policy, trust and security department Vijaya Gadde.
As per Musk, all three misled both him and investors regarding the number of fake Twitter pages.
According to media reports, Musk also fired Twitter chief customer officer Sarah Personette, and general counsel Sean Edgett. As per the employees of the company, the security officers immediately took Edgett out of the main building of the company immediately after the announcement of his dismissal.
As reported by Business Insider, all fired top managers will receive compensation. Agrawal may receive $38.7 million, Segal—$25.4 million, Gadde—$12.5 million, and Personette—$11.2 million.
For some time, Musk himself may be the CEO of Twitter, but in the future, as experts expect, he may cede that position to an employee loyal to the company's new direction.
Shortly after acquiring Twitter, Musk invited engineers from Tesla to the company's headquarters so they could test the software code of this social medium.
According to Bloomberg, heads of various departments have already provided Tesla engineers with all the necessary information so that they can study everything and report to Musk.
Moreover, according to the terms of the deal, as of Thursday, Twitter engineers could no longer make changes to the software code so that nothing would change in the software part of this social medium until the deal is closed.
On the eve of the deal, Musk had already visited Twitter's headquarters as its owner; moreover, holding a sink. In doing so, he actually staged the well-known English phrase "let that sink in," the meaning of which is that one should realize and come to terms with reality.
According to many media, in this way, Musk wanted to make Twitter employees understand that everything will be fine. He also said that he is not going to fire 75 percent of the company's employees. Twitter already seems to have a staffing problem, which was caused by the reduction of expenses and the reduction of salaries expected in 2023.
The story of Elon Musk's acquisition of Twitter began this April.
Musk had problems funding the deal, but later he was able to negotiate with international investors to provide him with $13 billion in borrowed funds to buy Twitter. The billionaire needed just that much money for this deal.
Now this long story has finally come to an end. But time will tell how this transaction will affect the work of Twitter and how this social medium will develop.