Elon Musk now owns Twitter

Elon Musk’s $44 billion acquisition of Twitter shut on Thursday according to numerous media studies citing nameless sources, even as the corporation itself and Musk saved mum on the issue.

Reports surfaced previously on Thursday that various members of Twitter’s senior leadership had been summarily fired, including CEO Parag Agrawal, CFO Ned Segal and head of lawful Vijaya Gadde. Sources familiar with the matter told the Wall Street Journal that Musk experienced done the deal on Thursday, just one day just before a court docket imposed deadline.

The abrupt purging of major executives and the absence of any official update from Twitter relating to the standing of the acquisition appeared to deliver to an finish, in fitting manner, one of the most weird specials in company history.

Musk agreed to obtain the social networking site in April for $54.20 per share, but modified his head and sought to back again out of the offer a couple of months later as the marketplaces suffered a sharp drop.

Musk stated that Twitter had misinformed him about the sum of faux “bot” users on the system, boasting without the need of evidence that the range of bots was significantly better than Twitter’s 5% estimate. Twitter then sued Musk in Delaware Chancery Court to pressure him to near the deal.

With about 240 million everyday customers, Twitter is one of the most influential social media expert services, applied by politicians, celebs, activists, and business enterprise moguls to announce news, share info and make jokes.

The sale to Musk, the world’s richest particular person and the CEO of two other companies — electric car or truck maker Tesla and aerospace organization SpaceX — usually means that Twitter will turn into a privately held organization owned by Musk.

Musk’s ownership of Twitter has elevated problems within and outside the corporation regarding his ideas. The 51-12 months-previous has reported he intends to loosen Twitter’s rules about appropriate speech on the company, like likely overturning the life time ban on previous president Donald Trump, and that he supposed to layoff 75% of the company’s team.

Twitter associates did not return requests for comment.

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