Posted on 10/27/22
| News Source: CNBC
Tesla CEO Elon Musk is now in charge of Twitter, CNBC’s David Faber reported on Thursday.
Twitter CEO Parag Agrawal and chief financial officer Ned Segal have left the company’s San Francisco headquarters and will not be returning.
Musk had until Friday to complete his $44 billion acquisition of Twitter or face a court battle with the company.
In April, Twitter accepted Musk’s proposal to buy the social media service and take it private. Just a few months later, however, Musk began sowing doubt about his intentions to buy Twitter and would allege that the company failed to adequately disclose the number of spam and fake accounts on the service.
When Musk said he was terminating the deal, Twitter sued the billionaire, alleging that Musk “refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.”