Space-X CEO and Tesla CEO Elon Musk buys Twitter, which has been in the news since April. Elon Musk fired several executives, including Parag Agrawal, CEO of Tesla.
Parag succeeded Jack Dorsey to the CEO of Twitter. Elon Musk, however, reportedly fired Ned Segel, head of finance, Vijaya Gadde chief legal officer and Sarah Personette chief customer officer.
On Oct 27, Musk visited Twitter’s headquarters, California, to take over control of the micro-social media platform. This was part of his $44billion plan.
Elon-Twitter deal roller coaster
Musk tried to withdraw his bid for Twitter to be bought after he announced the deal in April. As his reason for the purchase, he cited Twitter’s “false” and misleading claims during negotiations. Musk had a second moment of clarity in October and decided to continue with his plan to buy Twitter.
Musk began firing high-ranking officials to get a large payout, as SpaceX founder and CEO is now the official owner of Twitter. According to Business Insider, Parag Agrawal was paid $38.7million, Segal $25.4 million, Gadde $12.5 million and Personette $11.2 million.
Future of Twitter with Elon Musk
Elon Musk has stated that he wants to clean up the bots platform and this is his first business venture. Elon Musk, who acquired Twitter, stated that he plans to create a digital community to discuss and share healthy topics.
Musk also stated that high-relevance advertisements are actual content and low-relevance adverts are spam. Elon Musk expressed his desire to make Twitter more like WeChat in China, which is an all-purpose app.
