🎶 let the good times roll 🎶
— Elon Musk (@elonmusk) October 28, 2022
“Let the good times roll”, billionaire Elon Musk tweeted on Friday, hours after he acquired Twitter for a whopping USD 44 billion and started off as the social media giant’s new owner by firing its top executives, including CEO Parag Agrawal.
“The bird is freed,” Musk had tweeted on Friday after completing the takeover of Twitter and sacking its four top executives, including Agrawal, legal executive Vijaya Gadde, Chief Financial Officer Ned Segal and General Counsel Sean Edgett.
“Spoiler Alert. Let the good times roll,” Musk, 51, tweeted early Friday morning after ending Thursday night with his acquisition of Twitter.
“I will be digging in more today, Musk said in reply to a tweet by a user called Catturd’ who tweeted that he will be tweeting a message “every day to see if anything changes. As of now, I’m still Shadowbanned, ghostbanned, searchbanned, and Twitter removed 1200 followers today – as usual. Nothing has changed – I’ll report again tomorrow.”
At least one of the executives who was fired was escorted out of Twitter’s office, a report in the New York Times reported. There has been no official confirmation as yet on the USD 44 billion from Twitter headquarters.
The deal’s closing removes a cloud of uncertainty that has hung over Twitter’s business, employees and shareholders for much of the year, the CNN commented.
After initially agreeing to buy the company in April, Musk, the world’s richest person with a net worth of about USD 250 billion, spent months attempting to get out of the deal, first citing concerns about the number of bots on the platform and later allegations raised by a company whistleblower.
Musk, a self-styled “free speech absolutist”, has been critical of Twitter’s management and its moderation policies.
The Tesla CEO has said he thinks Twitter should be more reluctant to delete things and “very cautious with permanent bans.”
Musk seems to be keen on bringing back one of Twitter’s most prominent former users: Donald Trump.
I do think it was not correct to ban Donald Trump, I think that was a mistake, Musk said in May.
The former US president has said he does not want to rejoin Twitter and will instead remain on his own social media platform, Truth Social.
Musk’s takeover of Twitter not only has the potential to create upheaval for its employees but also for the hundreds of millions of people around the world who use the platform daily.
Musk arrived at the company’s headquarters in San Francisco on Wednesday and had been meeting with engineers and advertising executives.
Musk also updated his Twitter description to Chief Twit.
He 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.
In April, Twitter accepted Musk’s proposal to buy the social media service and take it private.
However, Musk soon began sowing doubt about his intentions to follow through with the agreement, alleging that the company failed to adequately disclose the number of spam and fake accounts on the service.
When Musk said he was terminating the deal, Twitter sued the billionaire, alleging he refuses to honour his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.
Earlier in October, Musk said he wanted to pursue his acquisition of Twitter at the original price of USD 54.20 a share if the social messaging service dropped its litigation.
Twitter’s lawyers said that the Tesla CEO’s proposal is an invitation to further mischief and delay.
A Delaware Chancery Court judge eventually ruled that Musk had until October 28 to cement the Twitter deal or head to trial.
On Thursday, Musk wrote a message to reassure advertisers that social messaging services wouldn’t devolve into a free-for-all hellscape, where anything can be said with no consequences!
The reason I acquired Twitter is because it is important to the future of civilisation 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 said in the message.
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.
The New York Stock Exchange said on Friday that trading in Twitter’s shares had been suspending, giving the reason as “merger effective”.
