Elon Musk has completed his US$44 billion deal to buy Twitter, a source familiar with the deal told CNN Thursday. Musk fired CEO Parag Agrawal and two other executives, according to two people familiar with the decision.
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 users could reemerge on the platform.let former U.S.
Musk, a prominent and controversial Twitter user, became involved with the company earlier this year when he built up a more than 9 per cent stake in its shares. After announcing he had become Twitter's largest shareholder, Musk accepted and then pulled out of an offer to sit on the company's board. Musk then offered to buy Twitter outright at a significant premium, threatened a hostile takeover and signed a "seller-friendly" deal to buy the company that involved waiving due diligence. Within weeks, Musk began raising concerns about the prevalence of fake and spam accounts on Twitter and ultimately attempted to terminate the deal.
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