The takeover of Twitter by Elon Musk was finally completed on Thursday evening. That report American media. Musk tried for a long time to get out of the takeover worth $ 44 billion, but had to give in after a legal battle.
The New York Times reports that the owner of Tesla and SpaceX immediately fired four top executives of the social media company. Among them are Parag Agrawal, who served as Twitter’s chief executive, and financial chief Ned Segal. Musk had previously announced major changes to Twitter. That’s how he would investors have told that he wants to lay off 75 percent of the employees at the company.
In addition, he wants to grow the number of users of the platform, which is now at 200 million, to more than 930 million by 2028. In 2028, Musk also hopes for an annual turnover of more than 26 billion dollars, compared to about 5 billion dollars last year. received in revenue.
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A long-running legal battle
The deal concludes a long-running legal battle between Musk and the Twitter board. Musk announced in April that it would acquire the company for $44 billion, but within weeks began to openly cast doubt on the acquisition. He said the social media platform was not worth the amount and that there was a lack of clarity about the amount of spam accounts. In July, he announced that he would abandon the acquisition altogether.
Twitter then went to court to force Musk to abide by the agreement. At the beginning of October, Musk announced that it would still take over the platform for the agreed $ 44 billion. As a result, the lawsuit, which was to be filed later this month, could be called off.