Elon Musk Officially Owns Twitter, Fires CEO And CFO

Among his first actions as the owner of the company was to fire the managers.

Employees shared photos during the afternoon of October 27, where Elon Musk is seen in a meeting in the middle of the company’s cafeteria. CNBC and the Washington Post later reported that the billionaire had “presented himself” to the facility as the owner of the company.

CEO Parag Agrawal and chief financial officer Ned Segal later left the company’s headquarters in San Francisco. Head of legal policy, Vijaya Gadde, who made the decision to close the account of Donald Trump was also fired.

The billionaire had until Oct. 28 to complete his $44 billion acquisition of the microblogging site or face a lengthy court battle to complete the company’s purchase.

Since April, the social network and Elon Musk exchanged legal accusations. They were destined to face each other in court in Delaware, United States.

Elon Musk Holds Meetings With Twitter Employees

According to CNBC, not all employees seem “enthusiastic” about Elon Musk. This is after a leaked report revealed his intentions to lay off up to 75% of the staff. The workers drafted a letter demanding “fair treatment” from the new management.

Earlier this week, one sign of the acquisition was a call with banks including Morgan Stanley, Bank of America and Barclays. Each bank pledged $2.5 billion in loans for Musk’s acquisition.

In total, Musk’s seven banking partners pledged about $13 billion. Binance is another investor in the acquisition, committing $500 million. Other investors backing Musk include the Qatar Investment Authority and venture capital firm Sequoia Capital.

Source: beincrypto.com