Elon Musk, the wealthiest man in the world, has acquired Twitter for $44 billion.
Musk confirmed the takeover by tweeting “the bird is free.”
Upon taking over as the new owner, Elon Musk sacked a number of top officials, including chief executive officer Parag Agrawal, the company’s chief financial officer, and its director of safety, according to reports.
The conclusion of transaction concludes a lengthy and drawn-out dispute between the billionaire and the social network. Twitter went to court to hold the multibillionaire accountable for the terms of a takeover agreement he had attempted to evade.
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Musk attempted to back out of the Twitter transaction shortly after his unsolicited bid was accepted in April. He claimed in July that he was misled by Twitter regarding the amount of phony “bot” accounts, which the company denied.
The takeover occurred within hours of the court-ordered deadline for Musk to finalize his on-again, off-again agreement to purchase the social media network.
