The space tycoon and the world’s richest man, Elon Musk, has celebrated a big day after acquiring Twitter. Musk has now completed his purchase deal on the social media platform. However, more than 110 million followers of Musk need to know the entire process and progress related to the purchase deal.
Musk has also confirmed the deal and is now the new owner of the Twitter platform. Moreover, his tweet was rapidly circulated and received massive numbers of replies. The most specific reply was received from European Union Internal Markets Commissioner, Thierry Breton. He is considered a regular critic of international controllers.
A Statement from Trump about Twitter’s Deal
Former US President Donald Trump also commented on the Twitter deal that took place on Friday. He used his own social media platform and said: “Truth Social”, in a post. Trump said Musk’s acquisition could place the social platform in “sane hands”. However, Musk said he will push into shadow bans as hate speech and abuse resemble on Twitter.
Various reports started circulating early Friday that hate speech and ethnic slurs are surfacing on Twitter. Users on Twitter were rapidly informed on Friday that they have started experiencing changes related to the platform working. The social platform is reportedly lifting bans on users formerly limited on the site, most often as a direct consequence of tweeting Musk.
Musk is Removing Bans and Restrictions on Users
On Friday, Musk tweeted that he is digging in more today on removing shadow bans and canceling restrictions on users. There were various well-known commentators including famous YouTuber Tim Pool, who commented about the latest changes. Users who had their content diluted or encountered Twitter bans also tweeted directly to Musk.
Those users asked Musk for bringing them back in lifted names of people that normally use the platform. On Thursday, multiple news outlets reported that Musk has now finalized the $44 billion deal. He has also terminated Twitter’s top executives including the CEO of the company, Parag Agrawal. Moreover, Bret Taylor was also removed from the Twitter chairman and his Twitter bio.
Elon Musk will Pay Around $200 Million to Remove Executives
Multiple sources said the deal is now done and Elon Musk has taken control of Twitter. Musk will reportedly pay at least $200 million to terminated executives. The head of legal, Agrawal; chief financial officer, Ned Segal; and policy & trust, Vijaya Gadde, have strict contractual agreements.
The Market-Watch reports have indicated that these 3 officials own around $65 million worth of Twitter stock. They will reportedly get another $119.6 million in stock after their termination. Gadde will get the biggest haul from Twitter estimated at around $74 million. Segal will receive at least 66 million and Agrawal will get around $65 million.
Musk Confirmed that it will Not Terminate 75% of Employees
Meanwhile, previous Twitter management earlier planned to slice the workforce to around $800. The company is dedicated to making deep cuts related to infrastructure such as data centers, at the end of 2023. Musk has also planned other measures including terminating 75% of the company’s employees, around 7,500 workers.
However, the news was circulated on various social media platforms before closing the deal. On Wednesday, Musk addressed workers at Twitter’s headquarters. He said he doesn’t plan to cut 75% of Twitter staff after purchasing and taking over the company. The amount represented a 33% premium to Twitter’s stock price at the time of his April offer.