Elon Musk takes control of Twitter, fires top executives immediately

Elon Musk takes control of Twitter, fires top executives immediately

Elon Musk has finally bought Twitter for $54.20 a share or a total of about $44 billion.

His next step as the owner of the micro-blogging site was to fire its top executives including CEO Parag Agarwal.

This decision was just hours before the deadline for the billionaire to seal his on-again, off-again deal to purchase Twitter.

After initially agreeing to buy the company in April, Musk spent months attempting to get out of the deal.

He first cited concerns about the number of bots on the platform and later allegations raised by a company whistleblower.

By completing the deal, Musk and Twitter have avoided a trial that was originally set to take place earlier this month.

Beyond the removal of executives, Musk’s takeover could also usher in the return of founder Jack Dorsey.

Musk has also reportedly told investors that he planned to get rid of nearly 75% of the company’s staff.