Elon Musk Officially Buys Twitter
October 24-28, 2022
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Elon Musk’s deal to buy Twitter for $44B closed on Thursday. Upon closing the deal, Musk fired Twitter CEO Parag Agrawal and CFO Ned Segal. According to a previous memo sent to prospective investors in the deal, Mr. Musk plans to cut up to 75% of Twitter’s workforce in an effort to cut costs. Before the deal closed on Thursday, Musk visited Twitter headquarters to meet with staff. In addition, he posted an open letter to Twitter advertisers outlining his reasons for buying the company, along with his vision for the platform moving forward.
More: “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
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