Musk fired CEO Parag Agrawal, CFO Ned Segal, and Vijaya Gadde, head of legal policy, trust, and safety, The Washington Post reported. The report said Musk also fired the company’s general counsel, Sean Edgett.
Business Insider reported that Musk’s acquisition of the company was finalized Thursday evening as the company’s stock was purchased for $54.20 per share in a deal worth $44 billion.
The news comes as Musk visited the company’s San Francisco headquarters this week, bringing a sink with him the first day.
“Entering Twitter HQ – let that sink in!” Musk tweeted.
Musk changed his Twitter bio to “Chief Twit” and changed his location to “Twitter HQ.”
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
Musk released a statement earlier in the day explaining why he wanted to buy Twitter.
“I wanted to reach out personally to share my motivation in acquiring Twitter,” Musk wrote. “There has been much speculation about why I bought Twitter and what I think about advertising. Most of it has been wrong.”
“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,” Musk 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.”
“In the relentless pursuit of clicks, much of traditional media has fueled and catered to those polarized extremes, as they believe that is what brings in the money, but, in doing so, the opportunity for dialogue is lost,” Musk continued. “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. And I do so with humility, recognizing that failure in pursuing this goal, despite our best efforts, is a very real possibility.”
“That said, Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!” Musk concluded. “In addition to
adhering to the laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences, just as you can choose, for example, to see movies or play video games ranging from all ages to mature.”
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