October 28, (THEWILL) – World richest man and Tesla CEO, Elon Musk, has finally completed his $44 billion formal acquisition of Microblogging platform, Twitter.
Confirming the final buy out of the Microblogging platform, Musk tweeted: “the bird is freed.”
Though, first announced in April, the deal had hit rocks over Musk’s concerns about the number of spam bots on Twitter.
But earlier this month, Musk proposed moving ahead with the deal again at the originally agreed-upon price of $44 billion, or $54.20 per share, according to a letter from Musk’s attorneys to Twitter’s lawyers that was also filed with the SEC.
Musk has said he wants to “defeat” spam bots on Twitter, make the algorithms that determine how content is presented to its users publicly available, and prevent the platform from becoming an echo chamber for hate and division, even as he limits censorship.
With the buy out, Musk fired Twitter Chief Executive, Parag Agrawal, Chief Financial Officer, Ned Segal and legal affairs and policy chief, Vijaya Gadde, reports quoted two people familiar with the decision.
He had accused them of misleading him and Twitter investors over the number of fake accounts on the social media platform.
Agrawal and Segal were in Twitter’s San Francisco headquarters when the deal closed and were escorted out, the sources added.
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