Chief Executive Officer Parag Agrawal and legal affairs and policy chief Vijaya Gadde were in Twitter’s San Francisco headquarters when the deal closed and were reportedly escorted out.
Musk Fires Twitter CEO Parag Agrawal
Elon Musk finally completed his $44 billion acquisition of Twitter Inc., according to people familiar with the matter, putting the world’s richest man in charge of the struggling social media platform after six months of public and legal wrangling over the deal.
Among Musk’s first actions: changing the administration. Releases include Twitter Chief Executive Officer Parag Agrawal; Vijaya Gadde, the head of legal, policy, and trust; Chief Financial Officer Ned Segal, who joined Twitter in 2017; and Sean Edgett, who has been general counsel at Twitter since 2012, according to people familiar with the matter. Edgett was escorted out of the building, said two of the people, who asked not to be identified because the information isn’t public.
Agrawal, 38, was appointed Twitter CEO in November last year after the social media site’s co-founder Jack Dorsey had stepped down. An IIT Bombay and Stanford alumnus, Agrawal joined Twitter over a decade ago when there were fewer than 1,000 employees at the company.
the bird is freed
— Elon Musk (@elonmusk) October 28, 2022
Shareholders will be paid $54.20 per share, and Twitter will now operate as a private company. Musk tweeted on Thursday that he was buying Twitter “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.”
“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,” Musk wrote.
He continued: “There is currently great danger that social media will splinter into far right wing and far left wing echo chambers that generate more hate and divide our society.”
Dear Twitter Advertisers pic.twitter.com/GMwHmInPAS
— Elon Musk (@elonmusk) October 27, 2022