Elon Musk finally takes over Twitter, fires top executives

In an apparent confirmation on Friday, October 28, 2022, the co-founder of Tesla and SpaceX tweeted “the bird is freed”.

Elon's first task: His first action was the immediate sack of the Chief Executive Officer, Parag Agrawal, the Chief Financial Officer, Ned Segal, Head of Policy Trust and Safety, Vijaya Gadde, among others.

What you should know: Agrawal and Segal were escorted out of Twitter’s San Francisco headquarters after the deal closed, according to Reuters.

Musk paid a visit to the company’s San Francisco headquarters on Wednesday, Octoberf 26, 2022, carrying a sink, and has said he is purchasing the company “to try to help humanity”.

The Suspense: However, there was confusion over the deal on Thursday, October 27, 2022, as neither Twitter nor Musk immediately confirmed the firings. Musk, who had earlier changed his Twitter bio to “Chief Twit”, tweeted about SpaceX but did not mention his new acquisition or the dismissals after the news broke.

Elon to pay off Twitter's debts: The reported firings follow news that Musk planned to eliminate nearly 75% of Twitter’s staff in an effort to pay down the company’s debt. Musk later dismissed those reports, telling employees he would not cut such a large portion of the staff.

Road to buying Twitter: The $44billion purchase of the influential social media platform was first announced in late April.

But the following months witnessed disagreements which threatened the sale and take over.

The then-Twitter management filed a lawsuit accusing Musk of trying to go back on the terms of agreement.