Elon Musk Completes a $44 Billion Deal to Acquire Twitter

On Thursday, following months of legal fighting between the world’s richest man and the social media platform, Elon Musk completed his $44bn deal and became Twitter Inc.’s new owner, ending one of the most high-profile and dramatic buyout sagas in recent years.

Twitter’s CEO Parag Agrawal and CFO Ned Segal reportedly left the firm as Musk took over Thursday night. Musk is said to have accused them of misleading him and failing to provide enough detail about how he plans to accomplish the ambitious goals he has set for the popular social media platform.

According to the New York Stock Exchange’s website, Twitter shares will be halted from trade on Friday (Oct. 28).

Musk, however, has not provided details on how he will accomplish all of this or who will lead the company. There is now uncertainty among Twitter’s around 7,500 employees because of his stated intention to reduce the number of jobs. 

He also said on Thursday that he purchased Twitter not to gain more money, but rather to “to try to help humanity, whom I love.”