Elon Musk officially owns Twitter after months of waffling, lawsuits, rhetorical mudslinging, and a narrow escape from a full-fledged trial.
According to three people familiar with the issue, Mr. Musk concluded his $44 billion offer to buy the social networking firm on Thursday night. He also started cleaning house, firing at least four top Twitter executives, including the CEO and CFO, on Thursday. Mr. Musk arrived at Twitter’s headquarters in San Francisco on Wednesday and talked with engineers and ad executives.
Some Republicans have applauded the acquisition, claiming that Twitter restricted conservative perspectives. According to researchers, Twitter’s regulations have proved critical in combating online hate speech and disinformation. Some sponsors are concerned about their brands appearing alongside provocative tweets.
Mr. Musk has also pledged other significant changes at Twitter, such as new leadership, employee layoffs, and the pursuit of new revenue streams. Twitter, which is headquartered in San Francisco and employs over 7,500 employees, has struggled to regularly grow its advertising-based business and attract new users. The firings of top corporate officials on Thursday indicated that Mr. Musk wanted to act quickly.