Elon Musk bought Twitter for $44 billion and immediately fired the previous management

By: Maksim Panasovskyi | 28.10.2022, 10:26

As promised, Elon Musk became the new owner of Twitter. The American businessman bought the social network for $44 billion, and the first decision was the dismissal of the former management, if you don't count the delivery of the sink to the office.

Here's What We Know

U.S. media reports that Elon Musk fired Twitter CEO Parag Agrawal and CFO Ned Segal. After signing the deal, they left the office accompanied by security. Vijaya Gadde, head of the legal department, and Sean Edgett, legal counsel, will also have to look for new jobs.

According to Insider, all of the top executives were compensated. The total was $88 million, though almost half went to the CEO. He was paid $38.7 million.

As for Elon Musk, the American billionaire has already managed to appeal to advertisers through his personal social network. He stated that social networks can divide the ultra-left and ultra-right eco-cameras, bringing even more discord to society, and he bought Twitter not to make money, but to help humanity.

In addition, the platform will comply with American laws and try to be welcoming to all categories of users. Whether former U.S. President Donald Trump's account will be unblocked is still unknown.

Source: Reuters, CNBC, Insider, @elonmusk