Musk, a prominent and controversial Twitter user, became involved with the company earlier this year when he built up a more than 9% stake in its shares. Now he controls a social media platform that shapes how hundreds of millions of people communicate and get their news.Įven for Twitter, a company known for a certain amount of chaos over its history, the months-long deal process with Musk was turbulent. The billionaire already owns, oversees or has significant stakes in companies developing cars, rockets, robots and satellite internet, as well as more experimental ventures such as brain implants. The acquisition also promises to extend Musk’s influence. He also posted an open letter to Twitter advertisers, saying he doesn’t want the platform to become a “free-for-all-hellscape where anything can be said with no consequences.” In taking those steps, Musk could singlehandedly upend the media and political ecosystem, reshape public discourse online and disrupt the nascent sphere of conservative-leaning social media properties that emerged largely in response to grievances about bans and restrictions on Twitter and other mainstream services.Įarlier this week, Musk visited Twitter’s San Francisco headquarters to meet with employees. Mike Blake/ReutersĮlon Musk visiting Twitter headquarters this week ahead of expected deal closing SpaceX owner and Tesla CEO Elon Musk smiles at the E3 gaming convention in Los Angeles, California, U.S., June 13, 2019. Musk also fired Sean Edgett, Twitter’s general counsel, according to a source. In addition to Agrawal, Musk on Thursday fired CFO Ned Segal and policy head Vijaya Gadde, according to the two sources. But Musk’s takeover, and the immediate firings of some of its top executives, now raises a host of new questions for the future of the social media platform, and the many corners of society impacted by it.
Elon musk twitter trial#
Musk appeared to acknowledge the takeover in a tweet Thursday night saying, “the bird is freed.”īy completing the deal, Musk and Twitter have avoided a trial that was originally set to take place earlier this month.
After initially agreeing to buy the company in April, Musk spent months attempting to get out of the deal, first citing concerns about the number of bots on the platform and later allegations raised by a company whistleblower. The deal’s closing removes a cloud of uncertainty that has hung over Twitter’s business, employees and shareholders for much of the year. Musk fired CEO Parag Agrawal and two other executives, according to two people familiar with the decision.
Elon Musk has completed his $44 billion deal to buy Twitter, a source familiar with the deal told CNN Thursday, putting the world’s richest man in charge of one of the world’s most influential social media platforms.
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