Musk Buys Twitter for $44 Billion and Fires CEO Parag Agrawal

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Elon Musk has been a constant visitor in regular news for a prolonged period. And this time, Musk did something crazy. It was right after purchasing Twitter for a whopping deal of $44 billion, Musk fired its CEO, Parag Agrawal. The firing didn’t only end with the CEO but also the top executives. There was a relentless battle between Musk and Twitter urging the former to comply with the merger agreement.  Musk followed it by firing top executives like Chief Financial Officer Ned Segal, Twitter legal chief Vijaya Gadde, and also the general counsel Sean Edgett. Nobody knows who will triumph over the position of Twitter’s CEO now.

The months-long battle between Musk and Agrawal resulted in the former trying to draw himself out of the merger contract. It was in August that Musk contested the former Twitter CEO in a public controversy regarding Twitter’s spam-account data. But, Twitter was stringent with its lawsuit regarding the merger where eventually Musk was forced to yield to the deal. This was followed by Musk posting critical tweets about Gadde’s slant toward content moderation.

The deal was signed right after the day of visiting Twitter’s headquarters in San Francisco. The Twitter employees passed around a letter criticizing Musk post his Washington Post Report where it was stated “Musk told prospective investors in his deal to buy the company that he planned to get rid of nearly 75 percent of Twitter’s 7,500 workers, whittling the company down to a skeleton staff of just over 2,000.” But Musk maneuvered the employees on his visit to the Twitter headquarters that he wasn’t planning to fire 75 percent.

From now on, Twitter is no more a public company. It is private, and with Musk having all the hold, there is no space for free speech. Why this belief? Musk once stated that he was buying Twitter for securing its free speech, but free speech, in his term, is different. He might restrict speech in any country where the government urges him to do so.

The war began with Musk buying 9.2% of Twitter and then the board asking to be a part of the board of directors alongside forbidding him to buy more than 14.9 percentage of company stock. But, Musk had something else in mind, he started laying the blueprint of directly buying the company altogether. Though in April, Musk did buy the company but soon after declared a temporary hold. He asked for the count of all the fake accounts, which was denied by the board.

This whole thing was followed by Musk stating that Twitter had lied about its estimates of the spam or fake accounts. Twitter sued  Musk as a result, and he suffered plentiful setbacks during the court session, he was urged to close the merger by 28th October. This was all concluded with Musk finally gaining hold of Twitter and will be running the same from this November.

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