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Elon Musk owns Twitter, fires its top executives immediately

By Liu Hongzuo - on 28 Oct 2022, 3:16pm

Elon Musk owns Twitter, fires its top executives immediately

Source: Elon Musk's Twitter.

Elon Musk completed his US$44 billion deal to buy social media service, Twitter, and started with a spring cleaning that saw Twitter’s top executives made to leave.

According to The New York Times, the four executives were CEO Parag Agrawal, CFO Ned Sagal, its Head of Legal and Policy Vijiaya Gadde, and General Counsel Sean Edgett. A fifth executive (Chief Customer Officer Sarah Personette) was also let go, according to Insider.

The ex-executives of Twitter were mostly paid out for their departures. According to The Verge, Agrawal received a US$38.7 million payout, Segal got US$25.4 million, Gadde took US$12.5 million, and Personette had US$11.2 million.

Elon Musk changed his Twitter profile description to "Chief Twit".

Elon Musk’s decision to buy Twitter first surfaced in April this year, but it wasn’t without a few months of the Tesla headrunner changing his mind, handling lawsuits, and firing pointed Tweets before the deal’s completion. 

According to Bloomberg, the new Chief Twit is looking to cut an unknown number of Twitter employees. 

Among the suggested methods was to mandate 100% work-from-office, as seen in text messages between Musk and his friend Jason Calcanis. The pair estimates that 20% of staff would leave voluntarily by this change.

Source: The New York Times, The Verge, Bloomberg

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