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South African-born Elon Musk buys Twitter for US$44b, fires top executives

Elon Musk is one of the richest men in the world

South African-born Elon Musk has completed his $44 billion deal to buy Twitter, a source familiar with the deal told CNN Thursday, putting the world’s richest man in charge of one of the world’s most influential social media platforms.

Musk fired CEO Parag Agrawal and two other executives, according to two people familiar with the decision. Twitter declined to comment.

The deal’s closing removes a cloud of uncertainty that has hung over Twitter’s business, employees and shareholders for much of the year. After initially agreeing to buy the company in April, Musk spent months attempting to get out of the deal, first citing concerns about the number of bots on the platform and later allegations raised by a company whistleblower.

By completing the deal, Musk and Twitter have avoided a trial that was originally set to take place earlier this month. But Musk’s takeover, and the immediate firings of some of its top executives, now raises a host of new questions for the future of the social media platform, and the many corners of society impacted by it. Musk on Thursday also fired CFO Ned Segal and policy head Vijaya Gadde, according to the two sources.

Musk has said he plans to rethink Twitter’s content moderation policies in service of a more maximalist approach to “free speech.”

The billionaire has also said he disagrees with Twitter’s practice of permanent bans for those who repeatedly violate its rules, raising the possibility that a number of previously banned, controversial users could reemerge on the platform.

Perhaps most immediately, many will be watching to see how soon Musk could let former President Donald Trump back on the platform, as he has previously said he would do.

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Depending on the timing, such a move could have major implications for the upcoming US midterm elections, as well as the 2024 Presidential campaign.

 

Source: cnn.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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