Elon Musk takes over Twitter, sacks CEO Parag Agrawal, other top execs: Reports

2 min read | October 28, 2022 02:07 PM AEDT | By Khushboo Joshi

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Highlights

As per reports, Tesla CEO Elon Musk has taken complete control of Twitter.

Musk is said to have fired CEO Parag Agrawal along with some other top executives.

Musk has tweeted on Thursday that he was going to buy Twitter.

Billionaire Elon Musk, in his quest for taking over world’s biggest businesses, has now taken complete control of Twitter, Inc. The American communications company, based in San Francisco, California, Twitter is NYSE-listed and has a share price value of US$53.70 currently with a market capitalisation of US$41.09 billion.

As per reports, post acquiring Twitter, Musk has asked its top executives - chief executive officer Parag Agrawal, chief financial officer Ned Segal and head of legal policy Vijaya Gadde – to exit the organisation. It should be noted that Vijaya Gadde is the same person who had made the decision to ban former US president Donald Trump’s Twitter account.

The Musk-Twitter timeline

Tesla CEO Elon Musk, back in April 2022, had expressed interest to acquire Twitter.
Musk changed his mind and withdrew his offer made to Twitter in May 2022.
Musk again shifted his bent of mind and got involved in a series of talks with Twitter leaders after the microblogging site took legal action to push Musk into completing the takeover deal.
Musk had time until Friday (today) to finish the US$44 billion takeover deal with Twitter or face a court battle with the social media company.
Musk is expected to address Twitter employees on Friday.
It should be highlighted that Musk had shared earlier that he is buying Twitter ‘to help humanity’ and that he ‘wanted civilisation to have a common digital town square.’
Recently Elon Musk had tweeted a video of himself strolling in Twitter’s headquarters with a kitchen sink in his hand and captioned it, ‘Let that sink in’. The video has gone viral now.
Adding to the drama, Musk now has updated his Twitter account's description to ‘Chief Twit’.

It is noteworthy to mention here that Elon Musk had earlier tweeted that his interest in the firm was not about making money. However, according to analysts, Musk is now paying too high for the company as tech stocks are not well-positioned as of now.

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