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  • The Merge

Elon Musk takes full control of Twitter, fires several top executives including CEO Parag Agrawal

Updated: Feb 25, 2023

Tesla CEO, Elon Musk, has officially taken full control of Twitter and fired its top executives like CEO Parag Agrawal and CFO Ned Segal amongst others. Musk had accused them of misleading him and Twitter investors over the number of fake accounts on the social media platform.

According to Reuters, both of them were escorted out of the building by security.

Elon Musk takes full control of Twitter

Vijaya Gadde, the head of legal, policy and trust (whom Musk had publicly criticised) was also fired along with Sean Edgett, the general counsel (Bloomberg says security escorted him out, as well.) Chief customer officer Sarah Personette was also fired, Insider reports.

The CEO of Tesla Inc had said that he is buying Twitter to 'try to help more humanity, whom I love' and not to make more money. He also said that he wants to "defeat" spam bots on Twitter, make the algorithms that determine how content is presented to its users publicly available, and prevent the platform from becoming an echo chamber for hate and division, even as he limits censorship.

Yet Musk has not offered details on how he will achieve all this and who will run the company.

Musk originally offered to buy Twitter in April, then changed his mind and tried to back out in May. Then, he changed his mind again on October 4th, filing a letter with the Securities and Exchange Commission affirming his commitment to the original deal.

Elon Musk at Twitter HQ
Elon Musk carrying a sink as he enters the Twitter headquarters in San Francisco on Oct. 26.Source: Twitter account of Elon Musk/AFP/Getty Images

Bloomberg Reports: Shareholders will be paid $54.20 per share, and Twitter will now operate as a private company. The completion caps a convoluted saga that began in January with the billionaire’s quiet accumulation of a major stake in the company, his growing exasperation with how it’s run and an eventual merger accord that he later spent months trying to unravel.

On Oct. 4, Musk agreed to proceed on his originally proposed terms, and a Delaware Chancery Court judge gave the two sides until Oct. 28 to wrap up the deal. That deadline was met, and now Musk, who is CEO of both Tesla Inc. and SpaceX, also controls Twitter, a service he uses often but criticizes openly, and that he has promised to change dramatically. The company’s shares are no longer expected to trade on the New York Stock Exchange.

Musk is expected to share more about his plan for Twitter with employees on Friday. Late Thursday evening, hours after the news of him firing execs first broke, he tweeted the following:

Elon Musk Tweet


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