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Fri, Apr

Elon Musk Closes $44bn Twitter Deal, Fires Top Executives

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Tesla CEO and the world’s richest man Elon Musk, has fired several top Twitter executives after officially taking control of the company and completing his $44bn (£38.1bn) deal Thursday evening, according to US media and an investor in the firm. Mr. Musk tweeted "the bird is freed", an apparent reference to the deal. A source with knowledge of the matter told FOX Business that Twitter CEO Parag Agrawal, CFO Ned Segal, and Vijaya Gadde, head of legal policy, trust, and safety were fired. Musk had accused the three of misleading him and investors over the number of fake accounts on the platform.


Musk and Twitter however have yet to confirm the firings.

Musk previously said he had plans to cut Twitter's staffing from about 7,500 to around 2,000 employees, a nearly 75% decrease.

The completion of the deal brings to an end months of legal wrangling, but the deal has prompted questions over the platform's future direction.

Mr. Musk, a self-styled "free speech absolutist", has been critical of Twitter's management and its moderation policies.

He had said he would reverse bans on suspended users, which could include former US President Donald Trump, who was excluded following the US Capitol riot in January 2021.

Musk has also expressed discomfort with the platform’s reliance on advertising and is widely anticipated to oversee significant job cuts at the company, although he has reportedly denied a Washington Post report suggesting he plans to slash 75 percent of the workforce.

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