The social media platform was successfully acquired by the richest man in the world, bringing Twitter into a new era.
Elon Musk is said to have finalized his $44 billion purchase of Twitter, making him the richest man in the world and giving him control of one of the most important social media platforms.
According to two persons with knowledge of the decision, Musk fired two top executives, including the CEO Parag Agrawal. Twitter opted not to respond.
The deal's completion lifts the uncertainty that has surrounded Twitter's operations, staff, and stockholders for much of the year. Musk spent months attempting to back out of the agreement after first agreeing to purchase the business in April, initially expressing worries about the number of bots on the platform and then charges made by a corporate whistleblower.
Musk and Twitter have avoided a trial that was initially scheduled to happen earlier this month by finalizing the agreement. But Musk's takeover and the subsequent sacking of several of the company's senior executives have brought up several new issues regarding the platform's future and the various facets of society it has affected. According to the two individuals, Musk also let go of his policy director Vijaya Gadde and CFO Ned Segal on Thursday.
In support of a more maximalist view of "free speech," Musk has stated that he intends to rethink Twitter's content moderation policies. The billionaire has also stated that he disagrees with Twitter's policy of permanent bans for those who repeatedly break its rules. This raises the possibility that several previously banned, controversial users may reappear on the platform.
The majority of people will be curious to see how quickly Musk would allow former president Donald Trump to return to the platform, as he previously promised he would. Depending on the timing, such a change might significantly impact both the 2024 presidential race and the 2018 US midterm elections.
By taking those actions, Musk could single-handedly upend the media and political ecosystem, change the way people communicate online, and undermine the conservative-leaning social media space that was just beginning to take off in response to complaints about restrictions and bans on Twitter and other mainstream services.