The world's richest man Elon Musk this morning officially took over Twitter at a value of $44 billion as agreed a few months ago. The takeover was finalized after he visited the Twitter headquarters yesterday and changed the status on the official account to "Chief Twit".
After trying to withdraw from the original purchase due to factors such as not being able to verify the number of real human users and arguing with staff, Musk continued the purchase to avoid being dragged by Twitter to court for violating the original agreement.
Musk has already confirmed that he will not lay off 75% of his staff as previously reported but CEO Parag Agrawal, CFO Ned Segal and head of policy and security Vijaya Gadde have been fired with immediate effect. Among Musk's early plans was to make Twitter a super app like WeChat.
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BUSINESS & MONEY