Elon Musk is officially the owner of the social media giant, Twitter.
“Freeing the bird”, as he tweeted was a clear indication that he has assumed ownership of the company.
According to a Reuters report, he also fired the company’s CEO, Parag Agrawal, the Chief Financial Officer, Ned Segal, as well as the chief of legal affairs and policy Vijaya Gadde.
As we know, Vijaya Gadde was also the one who made the decision to permanently suspend Donald Trump.
Yesterday, Musk also tweeted an open letter to advertisers on the platform, outlining his intentions, and hinting at a potential subscription-based model.
Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!
In addition to adhering to the laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences, just as you can choose, for example, to see movies or play video games ranging from all ages to mature.
Since the stock market is declining, Elon Musk’s net worth has also declined, most of which is comprised of shares held in his other companies.
As a result, Musk’s Twitter purchase was financed through a combination of debt financing, personal wealth, and deals with co-investors.
Some of big names include Oracle’s co-founder Larry Ellison, Sequoia Capital’s Doug Leone, or Binance’s very own Changpeng Zhao, who contributed $500 million to the deal.