Elon Musk’s newest job title is “Chief Twit,” after officially acquiring Twitter. Per Variety, an SEC filing Friday (October 28) by the New York Stock Exchange (NYSE) was a formal notification that Twitter’s stock was delisted to the public. That means Musk’s $44 billion acquisition closed at the original agreed-on price of $54.20 per share.
Musk, 51, promptly fired at least four top Twitter executives as the first order of business Thursday evening, according to Business Insider. They include CEO Parag Agrawal, CFO Ned Segal, Twitter’s head of legal, policy and trust, and safety, Vijaya Gadde and general counsel Sean Edgett. The terminated senior execs (minus Edgett) are walking away with a big payout, with Agrawal to receive $57.36 million; Segal with $44.47 million; and Gadde with $20.01 million, according to Twitter’s 2022 proxy statement. Musk then installed himself as CEO. He has said that he intends to overturn Twitter’s permanent bans. This likely includes the former President, Donald Trump. Musk has previously called Twitter’s lifetime ban on Trump a “morally bad decision” that he would reverse.
Musk has indicated he wants Twitter to become a more-expansive communications and entertainment app than it is today. He has spoken of wanting to ensure “free speech” on the platform, previously accusing Twitter of censoring conservative viewpoints and harboring a left-wing bias.
In a letter addressed to Twitter advertisers Thursday morning, he said his motivation for buying the site was not for monetary gain, but rather for humanity. He called it important “to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence.” He concludes that Twitter will not become a “free-for-all hellscape, where anything can be said with no consequences!”
“The bird is freed,” Musk tweeted late Thursday night.
the bird is freed— Elon Musk (@elonmusk) October 28, 2022