Elon Musk, the CEO of Tesla, after months of delay, finally put an end to his on-and-off deal with Twitter. He is now the owner of one of the most famous micro-blogging sites in the world and began his Twitter ownership upon terminating its high executives. Twitter’s new owner accused its top executives that they mislead him and provided him little clarity over how he will achieve the lofty ambitions he has outlined for the platform.
The richest man in the world stated that he wanted to “defeat” spam bots on Twitter and publicly make available the algorithms that determine how content is presented to its users. He also stated that he wanted to prevent the platform from echoing hate and division, even as he limits censorship. However, Musk has not offered details on how he will achieve all these and who will run the company.
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Elon Musk Took Over Twitter
Elon Musk’s on-and-off relationship with Twitter has finally come to an end. The CEO of Tesla is officially the owner of one of the biggest micro-blogging sites in the world, Twitter. Musk tweeted, “The bird is freed,” referencing Twitter being freed, since it’s logo is a bird. On late Thursday, October 27, 2022, the richest person on Earth completed the $44 billion takeover after a court-appointed deadline to seal his on-and-off deal with Twitter.
After becoming the owner, he immediately fired Twitter’s Indian-origin CEO Parag Agarwal, as well as many other top executives. According to Reuters, Parag Agarwal and Ned Segal were in the San Francisco headquarters when the deal closed and were escorted out of the office. Musk’s reason for firing them was that they mislead him and Twitter investors over the number of fake accounts on the social media platform.
the bird is freed
— Elon Musk (@elonmusk) October 28, 2022
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Why Did The CEO Of Tesla Buy Twitter?
Musk tweeted that he was buying Twitter “because it is important to the future of civilization.” He aimed to have a “common digital town square” wherein people can debate healthily, their beliefs, true to their conscience. All of this 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.”
Agarwal who was fired by Musk was appointed Twitter CEO in November last year after his predecessor Jack Dorsey had stepped down. Along with him, many others were also fired including Twitter’s general counsel, Sean Edgett, and chief customer officer Sarah Personette. The executives Musk fired have received handsome pay-outs. Personette got $11.2 million, Segal got $25.4 million and Agarwal received $38.7 million, according to Insider.
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