(This article is authored by Alar)
After multiple attempts in acquiring the social media giant, Elon Musk has finally become the new owner of Twitter! "The bird is freed," he wrote soon after the historical takeover of this massive microblogging company and he joins the club of billionaires stretching their empires into media.
Now, Elon Musk, who is the world's richest person, is the Chief of Twitter, SpaceX, and Tesla - the trio that is stamping its presence in three extraordinary arenas. After the social media juggernaut suffered a significant setback, everything started to take shape in order once Musk redeemed the deal to buy Twitter and the transition happened ahead of the legal deadline imposed by a US court.
Musk made an initial offer to purchase Twitter in April, but later changed his mind and tried to withdraw that offer in May. Then, on October 4th, he had another change of heart. This time, he sent a letter to the Securities and Exchange, and even got a court order stopping the proceedings against him so that the deal could close by October 28th.
As he has now taken over the helm, the first move Elon Musk made was to sack the top brass of Twitter to bring in new leadership under his command. Musk has fired Twitter CEO Parag Agrawal, who is a well-known Indian- American executive, Twitter's CFO Ned Segal, Twitter's Head of legal, policy, and trust Vijaya Gadde, and general counsel Sean Edgett.
Now that his $44 billion takeover is complete, Musk will be meeting with Twitter employees this week during which he would address them about his roadmap. Elon's future action consisted of making an unsolicited offer to purchase all of Twitter's shares for $54.20 per share, or roughly $44 billion. Elon Musk's $44 billion purchase offer for Twitter was accepted! Musk has stated that he wants to make Twitter more akin to WeChat and TikTok, that he would invite Donald Trump back to the site, and that he anticipates that in a few years, Twitter will have a billion users.
the bird is freed— Elon Musk (@elonmusk) October 28, 2022