Tesla CEO and one of the world's richest men, Elon Musk, took over Twitter.
"The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence. Twitter obviously cannot become a free-for-all hellscape where anything can be said without consequences. In addition to adhering to the laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences," Musk said.
Last April 2022, Musk made headlines when he proposed to acquire the microblogging and social networking application, Twitter with over 396.5 Million users globally making it a private company.
"Since making my investment, I now realize the company will neither thrive nor serve this societal imperative in its current form.Twitter needs to be transformed as a private company," Musk said in a letter to Twitter chairman.
However, a few months after his announcement, Musk tried to terminate the deal as the company failed to show and disclose the total number of bots, spam and fake accounts. With this, Twitter then filed a lawsuit against Musk last July 2022 as the latter refuses to honor the obligations to Twitter and the stockholders as
'the deal he signed no longer serves his personal interests.'
A change of heart had been made early this October as Musk announced that he will continue to pursue the acquisition with the original price of $54.20 a share or around $44 billion. Musk was given by a judge until October 28 to make a decision whether to continue the deal with Twitter or a court trial.
Now that Elon Musk has taken control over Twitter, current CEO Parag Agrawal, Vijaya Gadde, head of legal, policy and trust and CFO Ned Segal are among the top executives who left the company.
Right before reaching his decisions, Musk went viral when he went to Twitter headquarters carrying a sink.