Story: Twitter-Elon Musk ; 29-10-2022;
Elon Musk buys Twitter, what's next? Twitter future with Elon Musk?
• Elon Musk buys Twitter, sacks Indian origin CEO Parag Agarwal, alongside CFO and other top leadership.
• Elon Musk has completed his $44 billion deal for Twitter.
• The company's CEO and CFO were terminated and were reportedly escorted out of headquarters.
Elon v. Twitter in a nutshell:
Elon Musk, the richest man on the planet (has a net worth of $241 billion dollar as of 2022.), has finally completed his yet another “hyped and controversial” deal. Elon paid a whopping $44 million dollars to buy Twitter entirely.
Musk and Twitter went to court with many accusations to each other.
Musk, who sparked the controversy related to the purchase of social media company Twitter back in April 2022. He Tweeted asking his followers whether he should buy Twitter or not, and soon put out his offer of $44 million with a Twitter post.
Twitter in response agreed to the deal and things were looking smooth between the two.
Musk took U-turn, and tried to back off from the deal and accused Twitter with forgery in disclosing important documents related to the user base of the platform.
This led Twitter to take Musk to the court, for not completing the deal. Vice versa happened to Twitter.
The court in early hearings though ruled mostly in favour of Twitter, and Musk soon retaliated by again agreeing to the deal.
The court issued a last date of 28 October for Musk, to complete the deal, otherwise face trial.
Come 28 October 2022, Elon Musk pays $44 Million secures the deal (just in time), and arrives at Twitter office, first day as boss. Whoola, he kicked out just last year appointed CEO “Parag Agarwal” (which he had bitter spat just recently) and other top leadership in Twitter including, CFO Ned Segal, General Counsel Sean Edgett.
The big shocker was the name of Vijaya Gadde, who was serving as head of legal policy, trust & safety, who also made the decision to permanently suspend Donald Trump, got fired.
As he vowed:
Elon Musk just recently said he would lay off 75% of the Twitter staff if he buys Twitter, well his first day at work seems to justify what he said.
Elon Musk just Tweeted and informed his upcoming policymaking for the struggling social media platform:
“Twitter will be forming a content moderation council with widely diverse viewpoints. No major content decisions or account reinstatements will happen before that council convenes.”
Musk had promised the platform will no longer suppress the voice of people, and won't ban people for nothing.
He tweeted this after acquiring the platform:
Here's how India's political leader Rahul Gandhi reacted of Musk buying Twitter:
Rahul Gandhi, the India's main opposition leader and a member of parliament from INS (Indian National Congress) tweeted “Congrats” to Elon Musk on acquiring the company, and posted that now Twitter would be more toxic free, and would work without being under pressure by government body.
"Congrats @elonmusk I hope @Twitter will now act against hate speech, fact check more robustly, and will no longer stifle the opposition’s voice in India due to government pressure.”
Twitter in India and around the world has faced critisicm following its less effective approach on hate speech, toxic campaigns against many communities, entities etc. Twitter also faces accusation of working under governmental pressure, in India as well as in many other countries.