Elon Musk Summarily Fires Top Twitter Execs After Closing Buyout Deal
Written by Annie GausPublished Oct. 27, 2022 • 6:45pm
Business
In an aerial view, a sign is seen posted on the exterior of Twitter headquarters in San Francisco on April 27, 2022. Billionaire Elon Musk, CEO of Tesla and SpaceX, reached an agreement to purchase the social media platform Twitter for $44 billion. | Justin Sullivan/Getty Images
Billionaire Elon Musk wasted no time in sacking top management at Twitter after closing his acquisition of the social network.
Multiple outlets reported that Twitter CEO Parag Agrawal, CFO Ned Segal and Vijaya Gadde, head of legal policy, trust and safety, were summarily let go after Musk’s drama-plagued buyout of Twitter closed on Thursday.
The deal puts to rest a monthslong legal fight over ownership of the San Francisco-based tech firm, which has occupied its Mid-Market headquarters since 2011.
A longtime critic of Twitter, Musk made an $44 billion bid for the company in April but weeks later alleged that the company misrepresented the number of inauthentic bot accounts on the platform before attempting to back out of the deal.
Twitter filed a lawsuit against Musk, who countersued before eventually agreeing to buy the company at the original offer price of $54.20 per share.
Musk, who earlier posted a memo detailing his vision for Twitter, is rumored to be planning layoffs and expected to address company staff on Friday.
Annie Gaus can be reached at [email protected]
