On his first morning as the chief of the newly acquired company, Musk took to Twitter to share his delight. He wrote, “Spoiler Alert. Let the good times roll.”
🎶 let the good times roll 🎶
— Elon Musk (@elonmusk) 1666958942000
On Thursday, Musk completed his acquisition of Twitter for a whopping $44 billion and started off as the social media giant’s new owner by firing its top executives, including its CEO Parag Agrawal.
“The bird is freed,” Musk had tweeted after completing the takeover.
Along with Agrawal, the Tesla chief also fired legal executive Vijaya Gadde, chief financial officer Ned Segal and general counsel Sean Edgett.
After initially agreeing to buy the company in April, Musk spent months attempting to get out of the deal, first citing concerns about the number of bots on the platform and later allegations raised by a company whistleblower.
Musk arrived at the company’s headquarters in San Francisco on Wednesday and had been meeting with engineers and advertising executives.
Musk also updated his Twitter description to “Chief Twit.”
He has promised to transform Twitter by loosening the service’s content moderation rules, making its algorithm more transparent and nurturing subscription businesses, as well as laying off employees.
In April, Twitter accepted Musk’s proposal to buy the social media service and take it private.
However, Musk soon began sowing doubt about his intentions to follow through with the agreement, alleging that the company failed to adequately disclose the number of spam and fake accounts on the service.
When Musk said he was terminating the deal, Twitter sued the billionaire, alleging he “refuses to honour his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.”
Earlier in October, Musk said he wanted to pursue his acquisition of Twitter at the original price of $54.20 a share if the social messaging service dropped its litigation.
(With inputs from agencies)