It’s official, Elon Musk completes $44 billion Twitter deal
This confirmation comes after months of controversy. Elon Musk’s bid was accepted quite some time ago, but he tried to get out of the deal. He accused Twitter of not providing all the necessary info, as he believed the platform has a lot more bots than it seemed. The whole situation was just about to go to court, when Elon Musk changed his mind, and decided to go through with the initial bid. That being said, Musk already fired some executives. According to The New York Times, he fired at least four top executives over at Twitter. That includes the former CEO, Parag Agarwal, CFO Ned Segal, and Chief Content Moderator, Vijaya Gadde. We’re not sure who is the fourth. Prior to this takeover, there were reports that Musk plans to fire 75% of the company’s employees, but he denied that. The future of Twitter does remain uncertain, though. Musk may be ready to make some major changes.
We are probably looking at considerable changes moving forward
He often said that he wants the platform to allow unrestricted free speech. He also mentioned that Twitter would be a pathway to “an accelerant to creating X, an everything app”. All in all, it seems like we’re in for some changes. Musk certainly has huge plans for Twitter, otherwise he would not have gotten into this deal in the first place. Needless to say, $44 billion is a ton of money, this is a gigantic deal. It is also worth noting that Elon Musk made some promises to investors. He promised that Twitter would reach an annual revenue of $26.4 billion by 2028. That would be a huge jump as its revenue last year was $5 billion. He also wants to increase the user count.
