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Elon Musk finally owns Twitter and fires CEO and other top executives.

The bird is freed

Twitter and Elon Musk formally closed on the billionaire's offer to take the company by paying $54.20 per share, equal to about $44 billion (~RM207,790,000,000). After that, Elon Musk fired Twitter CFO Ned Segal, CEO Parag Agrawal, top policy chief Vijaya Gadde, general counsel Sean Edgett, and chief customer officer Sarah Personette.

The executives received payouts upon their exit. Insider reports: Agrawal got $38.7 million, Segal got $25.4 million, Gadde got $12.5 million, and Personette got $11.2 million.

According to Bloomberg: the same report claims that Musk told Twitter employees that he intends to downsize the workforce during his takeover, but that the cuts will not be as massive as 75%.

Elon Musk promised to bring big changes to the company including Twitter's moderation rules, eliminating spam bots, and charging a "slight cost" to governments and corporations for using the platform. Musk is expected to tell employees more about his plans for Twitter on Friday. He tweeted late Thursday evening, hours after news of him firing executives.

Source: The Verge


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