Elon Musk tested, “the bird is released” he takes control of Twitter and fires leaders in stride.
Published on 28.10.2022
“The bird is freed”: the richest man in the world Elon #Musk officially acquired #Twitter for 44 billion euros. Several executives, including CEO Parag Agrawal and CFO, were immediately fired after the social network (CNBC) took over.
Elon Musk is officially the new owner of Twitter, and he’s already laying off executives.
Kali Hays, Grace Kay
Twitter and Musk fought for months over his bid to walk away from the acquisition.
Today, Musk is taking control of the company, ousting executives and holding meetings with engineering teams.
“The bird is released,” he tweeted.
Elon Musk is now the owner of Twitter.
You enter Twitter HQ – Be guided by Elon’s cleaning!
On Thursday evening, Twitter and Musk officially completed the billionaire’s offer to take the company private by paying $54.20 per share, or about $44 billion, sources familiar with the deal told Insider. Musk flip-flopped on the offer in October, after spending months trying to back out of the deal. That same evening, Musk also fired CEO Parag Agrawal and chief financial officer Ned Segal, the sources said. General counsel Vijaya Gadde and general counsel Sean Edgett were also dismissed.
“The bird is released,” Musk tweeted late Thursday.
Musk visited Twitter’s headquarters in San Francisco this week, meeting with workers and holding impromptu chats with them in the cafe, Insider reported. On Wednesday, he entered the building carrying a large bathroom sink, a nod to the fact that he is Twitter’s new leader. A general meeting with the employees should take place on Friday.
Yesterday, Mr Musk changed his Twitter bio to read only “Chief Twit”. He previously said he would become the leader of Twitter, although the title of CEO is not important to him. “I don’t really care about the title, but obviously people have to listen to me,” he told employees in June. Musk also leads Tesla, where his official title is “Technoking,” in addition to top roles at SpaceX, Neuralink and The Boring Company.
According to Erik Gordon, a business law professor at the University of Michigan, Twitter’s lawsuit against Musk over the $44 billion purchase will end after Twitter files a dismissal request with the court. Delaware Court of Chancery.
The judge overseeing Twitter’s lawsuit against Musk has given them until Friday, October 28 to reach an out-of-court settlement or face a five-day trial next month. A trial was originally scheduled to be held earlier in October, but after a series of injunctions in favor of Twitter and the publication of some of Musk’s private text messages, he returned to the negotiating table. When the two parties were supposed to be close to agreeing on a $50 per share deal, Musk eventually went back to his original offer of $54.20.
Representatives for Twitter and Musk did not respond to messages seeking comment.
Musk first agreed in late April to buy Twitter. In early May, he privately expressed reservations about the deal he had signed and quickly announced on Twitter that it was “on hold”, sparking months of back and forth to about seemingly pretextual allegations about “bots” or inauthentic accounts on Twitter.
Although Musk said in an early statement about the acquisition that he wanted to control Twitter, in part to “defeat spambots,” he later claimed the problem was bigger than Twitter had let on, which constituted a fraud and allowed him to withdraw from the company. In early July, he sent a letter to Twitter, claiming to end the acquisition. Twitter quickly sued him in what turned out to be a contentious and costly legal battle.
Now that Musk has regained control of the company, questions continue to swirl about what he will change. He said there would be layoffs, but did not specify the extent of the cuts. He wants to make the company a “super app”, but hasn’t planned anything for this purpose. The executive ousting has been pending for weeks, but Musk still hasn’t said who will help him run the company.
So far, Musk seems to be mostly interested in the technical capabilities of the company and its staff. The very evening of the signature of the agreement, the heads of the engineering teams hastened to send messages to their collaborators. Meetings with Musk had been scheduled for Friday morning with a simple directive: “Bring some code.”
Are you a Twitter employee or someone with ideas to share? Contact Kali Hays at [email protected], on the Signal secure messaging app at 949-280-0267, or by DM Twitter at @hayskali. Contact her using a non-professional device.
Musk arrives to “free” the floor, and they, with one of the most corrupt of homebody, come to remind who they really are… the real fascists!