Twitter takeover deal closed: Musk is now Twitter boss, fires Indian-origin CEO Agrawal, other top executives

New Delhi: Tesla CEO Elon Musk, after showing a lot of "antics" has finally taken over as Twitter boss by completing the $44 billion acquisition deal. Immediately after taking over the helms at Twitter, Musk fired Indian-origin CEO Parag Agrawal, Chief Financial Officer Ned Segal, the company's policy chief Vijaya Gadde and others. Agrawal received $38.7 million, Segal got $25.4 million, Gadde got $12.5 million, and Personette received $11.2 million, said reports.  Meanwhile, on Thursday, Musk visited the Twitter headquarters with a sink in his hand, ahead of the micro-blogging platform's takeover deal. He posted a video on Twitter with a caption: "Entering Twitter HQ-- let that sink in!". Musk has also recently changed his profile to 'Chief Twit'.

Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7 — Elon Musk (@elonmusk) October 26, 2022

Musk had today's deadline to complete the acquisition face the lawsuit at a court in Delaware, as per the deadline given by the judge. He has raised $13 billion as loan from banks and lenders to go ahead with the takeover deal. Banks signed agreement in April to provide Musk with the debt financing he needed to buy the company. Musk had previously stated that he is "obviously" overpaying to acquire Twitter, however he added that the micro-blogging platform has great potential in the long term.

The tech billionaire has promised to transform Twitter by loosening the service's content moderation rules, making its algorithm more transparent and nurturing subscription businesses, as well as laying off employees.

Watch this space for more on the Musk Twitter Takeover

28 October 2022

20:03 PM

Hours after he completed the Twitter acquisition for a whopping USD 44 billion deal, Tesla CEO Elon Musk tweeted "Let the good times roll", which he labeled as a "Spoiler Alert" for netizens. Elon Musk's tweet has created utter suspense in the minds of millions. "Spoiler Alert. Let the good times roll," Elon Musk tweeted early Friday morning after closing the Twitter acquisition deal Thursday night.

18:45 PM

Congress leader Rahul Gandhi today congratulated Elon Musk and shared a graphic to claim that his follower count is growing again. He claimed that growth of his follower count was supppressed.

17:46 PM

Elon Musk second tweet post Twitter takeover says, "let the good times roll'.

let the good times roll

— Elon Musk (@elonmusk) October 28, 2022

Earlier, Musk had tweeted, 'the bird is freed'.

17:26 PM

Elon Musk has changed his Twitter profile Bio and location. The new location shows Twitter Headquarters.

17:01 PM

Twitter's takeover by Elon Musk sparked off a meme fest as netizens shared hilarious takes on 'Chief Twit', across various social media platforms.
Beyond serious debates on free speech and and how the 'maverick' new owner may change the social media discourse in coming days and months, many saw the funny side of things and Twitter soon brimmed with hilarious, rib-tickling memes as the Twitterati let the new reality "sink in". In one such meme, that has since gone viral, a smiling Musk is shown as Thanos, the villain in Marvel's Avengers movie. In the meme, Musk is shown snapping his fingers, the move dramatically wiping off Twitter staff. Another one has a man - depicted as Musk - leaning out of the car window, as he takes bird after bird from a seller, and frees them one by one. One of the clips that has generated massive views shows actor Govinda -- in one of his movies -- moving from cabin to cabin asking for everyone to be fired indiscriminately and departments to be sold.

16:14 PM

India's expectation of Twitter complying with the country's rules for social media platforms will not change with its takeover by Elon Musk, according to a senior minister.

16:11 PM

India's expectation of Twitter complying with the country's rules for social media platforms will not change with its takeover by Elon Musk, according to a senior minister.

11:07 AM

Sarah Personette, the chief customer officer, would get $11.2 million.

11:07 AM

Twitter's chief financial officer Ned Segal, is set to receive $25.4 million and Vijaya Gadde, the chief legal officer, will be richer by $12.5 million after firing.

11:06 AM

According to Insider, the former Indian-origin CEO is set to receive the largest payout of $38.7 million, largely due "to the entirety of his shares vesting upon his firing".

11:04 AM

Top Twitter executives will to take home $88 mn with now ousted CEO Parag Agrawal to get the maximum $38.7 mn as severance pay

10:03 AM

The bird is freed, Elon Musk tweets after acquiring Twitter

the bird is freed

— Elon Musk (@elonmusk) October 28, 2022

10:02 AM

Elon Musk tweeted after acquiring Twitter.

the bird is freed

— Elon Musk (@elonmusk) October 28, 2022

09:43 AM

Elon Musk revealed yesterday that he acquired Twitter to have for the future of civilization a common digital town square where a wide range of beliefs can be debated in a healthy manner, without resorting to violence.

09:32 AM

The social media platform's shares will be suspended from trading on Friday, according to the New York Stock Exchange's website.

08:38 AM

This was a fake statement from Donald Trump on Elon Musk’s takeover of Twitter was immediately circulating in the social media. This has now been confirmed that no statement from Donald Trump on Elon Musk’s takeover of Twitter has been released.

08:33 AM

Musk has casually mentioned laying off Twitter staff in his tweets, without sharing any figure.

08:32 AM

Reports earlier mentioned that Musk will fire 75 per cent, or 5,600 employees, from the Twitter staff globally.

08:32 AM

He visited Twitter headquarters in San Francisco on Wednesday, with a kitchen sink in his hands.

08:32 AM

In a letter to advertisers, he said that Twitter cannot become a free-for-all hellscape, where anything can be said with no consequences.

08:31 AM

Musk on Thursday told advertisers why he is finally acquiring Twitter, telling them that he wants the platform to be the most respected advertising platform in the world where users can see movies or play video games, ranging from all ages to mature.

08:31 AM

Sean Edgett, Twitter's general counsel, and chief customer officer Sarah Personette were also fired by Musk