According to the latest report, Tesla CEO Elon Musk has completed a transaction to take Twitter private for $44 billion. Musk first fired several Twitter executives, three people familiar with the matter said. One of them confirmed the deal had been completed.
Twitter CEO Parag Agrawal, CFO Ned Segal, and head of legal policy, trust, and security Vijaya Gadde were all fired, and three Twitter executives were rushed out of the building.
Twitter’s general counsel, Sean Edgett, was also fired, a person familiar with the matter said. Musk has previously publicly criticized Twitter’s outgoing management over product decisions and content moderation.
In April this year, Musk proposed to acquire Twitter at a price of $54.20 per share. On October 27, the bank began releasing $13 billion in funding to support Musk’s acquisition of Twitter.
The New York Stock Exchange website showed on October 27 that Twitter’s shares will be suspended from trading on Friday, as Musk faces a court-imposed deadline of October 28 to complete the $44 billion acquisition of Twitter.