Elon Musk takes over the role of Chief Executive Officer (CEO) at Twitter Inc. after completing his $44 billion acquisition, and his first move was to fire the social media company’s top leader and Former Chief Executive Officer Parag Agrawal whom he accused of misleading him over the number of spam accounts on the platform.
Elon Musk’s ownership will bring quick disturbance to Twitter’s operations, in part because many of his ideas for how to change the company are at odds with how it has been run for years.
The CEO of an electric car maker Tesla Inc has said that he wants to defeat spam bots on Twitter, make the algorithms that determine how content is presented to its users publicly available, and prevent the platform from beginning an echo room for hate and division, even as he limits censorship.
Shareholders part:
Shareholders will be paid $54.20 per share, and Twitter will now work as a private enterprise. The completion caps a convoluted saga that began in January with the billionaire’s quiet accumulation of a major stake in the company, his growing exasperation with how it’s run, and an eventual union accord that he later spent months trying to unravel.
Musk’s aim:
Musk has said that he wants to ensure that everyone has the right to free speech on the social media platform and also he plans to restore some of the high-profile accounts that were kicked off from Twitter. Moreover, Musk’s initiatives threaten to undo years of Twitter’s efforts to reduce bullying and abuse on the platform.
As the deadline neared, Musk began putting his stamp on the company, posting a video of himself walking into the headquarters and changing his profile descriptor on the platform he now owns to “Chief Twit.”
Musk has indicated that he sees Twitter as a foundation of a “super app” that offers everything from money transfers to shopping all in one go.
Elon Musk’s first moves:
As soon as he takes over Twitter, the very first thing he has done is changing the leadership. some of the major departures include Twitter Chief Executive Officer Parag Agrawal; Vijaya Gadde, the head of legal, policy, and trust; Chief Financial Officer Ned Segal, who joined Twitter in 2017; and Sean Edgett, who has been general counsel at Twitter since 2012, according to people familiar with the matter. Edgett was escorted out of the building, said two of the people, who asked not to be identified because the information isn’t public.
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