As per the reports from the New York Times, world’s Richest Man, Elon Musk has terminated company’s Chief Executive officer, Parag Agarwal and the company’s top legal executive Vijaya Gadde along with two other high ranking officials, after becoming the owner on Friday, 28th October 2022.
According to the New York Times, Elon Musk closed the deal with the Company’s officials of 44 billion US Dollars to buy Twitter on Thursday, 27th October 2022.
As per the reports, it is said that Musk has been cleaning the house of twitter by firing 4 top officials.
The officials who were fired by Musk were, Mr. Parag Agarwal chief executive officer, Ned Segal the chief financial officer, Vijaya Gadde the legal executive and Sean Edgett the general counsel.
The deal was closed on Friday, 28th October 2022 because, Delaware Chancery Court judge would have planned to reschedule the case trial in next month, that is in November.
However, Musk once had tried to step out of the deal but had to recommit by filing the letter with Securities and Exchange Commission (SEC), to provide confirmation on buying twitter for 44 billion US dollars on 4th October 2022.
The Delaware Chancery court judge delayed the trial to November and gave time for both the parties until October 28th 2022 to close the deal.
Musk started off with buying company’s share in January 2022 and eventually turned out to be the highest shareholder, worth 3 billion US dollars.
Later, Elon Musk became one of the directors at the board with a condition to stack up to 19.4 percent shares of the company.
Twitter’s new owner revealed the reason behind acquiring the company that he want to have a common digital town square for discussing over the beliefs without using violence.
The Tesla Inc. CEO did not like the advertising on twitter and also mentioned that he wants twitter to be the most respected platforms for advertising.
The Company’s new owner tweeted “the bird is freed” after acquiring.
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