Elon Musk completes US$44billion Twitter takeover

Elon Musk completes US$44billion Twitter takeover

By Rashika Kumar
28/10/2022
Elon Musk (Photo illustration by Salon/Getty Images)

Elon Musk has completed his US$44 billion takeover of Twitter, according to a number of media reports and an investor in the firm.

Twitter's Chief Executive and finance boss have reportedly left with immediate effect.

It brings to a close a saga that saw Twitter going to court to hold Musk to the terms of a takeover deal that he had tried to escape.

Musk tweeted his interest in the platform was not about making money.

Twitter's Chief Executive, Parag Agrawal, and Chief Financial Officer, Ned Segal are no longer with the company, according to US media reports.

The social media platform's shares will be suspended from trading today according to the New York Stock Exchange's website.

Musk says he bought it to help humanity and wanted "civilization to have a common digital town square".

Earlier this week Musk tweeted a video of himself walking into Twitter's headquarters in San Francisco carrying a kitchen sink with the caption: "let that sink in!"

He also changed his Twitter profile to read "Chief Twit".

Source: BBC

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