Elon Musk takes over Twitter, fires CEO and CFO – Says he’s buying Twitter “to help humanity”

Tesla and Spacex CEO Elon Musk has finalized the acquisition of Twitter Inc. and reportedly fired the company’s CEO and CFO. “The reason I acquired Twitter is that it is important for the future of civilization to have a common digital public square“, he said. “There is a great danger right now that social media is splitting into far right and far left echo chambers that generate more hate and divide our society.

Elon Musk takes control of Twitter

Tesla CEO Elon Musk has completed the $44 billion acquisition of Twitter Inc. and changed his Twitter profile description to “Chief Twit“. On Thursday night, he tweeted:

The bird is released.

Immediately after the deal was struck, Musk reportedly fired Twitter CEO Parag Agrawal, CFO Ned Segal, and Vijaya Gadde, the social media platform’s chief legal officer and chief content moderator. Gadde led the Twitter team that made the decision to ban former U.S. President Donald Trump after the 2021 Capitol Hill riot.

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On Thursday, Musk explained on Twitter his reasons for acquiring Twitter. The billionaire detailed, “The reason I acquired Twitter is because it’s important for the future of civilization to have a common digital public square, where a wide range of beliefs can be debated in a healthy way, without resorting to violence.

He continues: “There is currently a great danger that social media will split into far right and far left echo chambers that generate more hatred and divide our society” :

That’s why I bought Twitter. I didn’t do it because it was easy. I didn’t do it to make more money. I did it to try to help humanity, which I love.

Speaking to Twitter advertisers, Musk explained, “Twitter obviously can’t become a hellscape where you can say anything without consequences!“.

Stressing that “it is essential to show Twitter users ads as relevant as possible to their needs. Ads with little relevance are spam, but highly relevant ads are actually content,” the new Twitter boss concluded:

Fundamentally, Twitter aspires to be the world’s most respected advertising platform that builds your brand and grows your business.

Binance CEO Changpeng Zhao (CZ) confirmed Thursday that his company helped fund Musk’s acquisition of Twitter, tweeting: “Our intern says we wired the $500 million 2 days ago, probably just as I was being asked about Elon/Twitter.“Binance is among 18 companies that have pledged to help Musk fund the deal.

Tesla’s CEO went to Twitter headquarters on Wednesday with a sink to seal the deal. “As you enter Twitter headquarters, let it sink in!tweeted. According to Bloomberg, Musk told Twitter employees during his visit that he was not considering laying off 75 percent of the staff.

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