Elon Musk Twitter Deal Closes – CEO Parag Agrawal Fired As Well
People have become so curious to know the exact matter that is happing, according to different news the world’s Richest man Elon Mush just completed his deal of $44 billion Twitter acquisition Inc and stepped forward to fire the CEO of Twitter Para Agrawal. More interestingly, he started ownership of the social network after spending legal and public six months on the deal.
Remarkably, the familiar of matters declared that this is one of the best moves of Elon Musk toward his leadership. Moreover, Twitter will offer its service as a private company receiving $54.20 per share from the shareholders. The completion of a program that dealt with the billionaires quietly took some months to be revealed.
Musk got agreed to start proceeding with the originally proposed terms on October 4, and Delaware Court Judge gave time to both parties until October 28 for finalizing the deal. When the deadline was met the CEO of both SpaceX and Tesla Inc. Elon Musk also started to control twitter. This was the service that he was frequently using but was criticizing openly. More delightedly, he promised to change it drastically and the stock of the company was no longer trading in the New York Stock that creates also an irritating situation for Elon Musk.
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Elon Musk Action to firing Twitter CEO Parag Agrawal
Musk always has different strategies and plans to grow up his paw where ever he lands, Mask’s immediate disruption to firing CEO Para Agrawal was to improve Twitter’s operations. His idea was just to have a change in the company that runs for years. He is in favor to have free speech on the social network which helps to lose the content moderation standards and the most important idea was to restore some high-profile accounts that were banned due to some violating rules.
More importantly, reducing the abuse and bullying from Twitter that was creating a threat to the peace of humankind was the basic purpose of Elon Musk. As likely, as the deadline was near Musk began to start to put a stamp on the different agreements of the company. The different activities of Elon Musk such as posting videos of visiting headquarters and changing his profile descriptor show that he is going to start owning Twitter himself. He arranged a meeting with the Tesla engineers and positioned himself to be a leader at Twitter. The more interesting step was taken by him when he delivered a speech to workers that there is no change in the codes of products when the deal goes ends.
After announcing the transaction in April the employees are ready for layoffs and Musk floated an idea for bank partners of cost cuts when he initially started the fundraising for his deal. Some potential investors were told that Must wanted to cut 75% workforce, and almost the present number was 7500 which was expected to double the revenue in the next three years.
But actually, when he visited the headquarters after getting charged, he declared to employees he yet no plan to cut 75%. This all was told by matter familiar people. Musk claimed that Twitter needs to get healthy and announced that employees who have exceptional qualities and expertise can be permitted to work from his/her home, and all others are required to come office. Elon put his esteem effort to make Twitter become the largest corporation that got the honor to utilize their abilities from home or anywhere.
No ”Hellscape’ Here
Musk just reveals an idea for introducing a subscription product for having revenue and supplement though it was not clear which features and products might have extra cost. This has already a subscription product which is called Twitter Blue. This also has tweet editing features and the company just declared that this is primarily focused on potential users. It does not impress Musk he says that Twitter Blue is just an insane piece of text message that we send to a friend.
In the new journey, Musk is making sure that in the next movements there must be much care to stop all the offensive, violated content and posts.
Elon Musk took charge just to maintain the safety and trust of all users on Twitter, Musk knows how fruitful these steps are to improve the workability of Twitter. The deal goes close and Elon fires the CEO Para Agrawal.