Elon Musk has taken full ownership of Twitter after months of dithering, legal disputes, and verbal mudslinging.
The NY Times citing people familiar with the matter reported that Mr. Musk closed his $44 billion deal to purchase the social media platform on Thursday night.
At least four senior Twitter executives, including the CEO and CFO, were fired on Thursday as part of his organizational restructuring. On Wednesday, Mr. Musk had met with engineers and advertising executives at Twitter’s San Francisco headquarters.
Twitter’s future is uncertain as a result of the deal’s closing, which came after months of drama and legal issues as Mr. Musk changed his mind about purchasing the business. The self-described “free speech absolutist” Mr. Musk has stated that he would “reverse the permanent ban” of former President Donald J. Trump from the social media platform and that he wants to make it a more open space for all types of commentary.
Tesla Inc.’s (TSLA.O) CEO has, however, also stated that he wants to stop the platform from turning into an echo chamber for hate and division. Other objectives include attempting to “defeat” spam bots on Twitter and making the algorithms used to decide what content is shown to users available to the general public.