Thursday, November 21, 2024

Elon Musk completes Twitter takeover in $44bn deal

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Staff Writer
Staff Writer
Africa Feeds Staff writers are group of African journalists focused on reporting news about the continent and the rest of the world.

The world’s richest man, Elon Musk, has now completed his $44bn takeover of Twitter.

Mr. Musk also confirmed the completion of the deal being reported by US media in a tweet saying “the bird is freed”

He has subsequently sacked a number of top executives, including the boss, Parag Agrawal, according to US media reporting.

Mr Agrawal and two other executives were escorted out of Twitter’s San Francisco headquarters on Thursday evening, Reuters said.

Chief financial officer Ned Segal, and the firm’s top legal and policy executive, Vijaya Gadde, are leaving alongside Mr Agrawal, according to US media reports.

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The completion of the deal brings to an end months of legal wrangling, but the deal has prompted questions over the platform’s future direction.

The CEO of electric car maker Tesla Inc has said he wants to prevent the platform from becoming an echo chamber for hate and division.

He also wants to “defeat” spam bots on Twitter and make the algorithms that determine how content is presented to its users publicly available.

Elon Musk has also tried to calm employee fears that major layoffs are coming and assured advertisers that his past criticism of Twitter’s content moderation rules would not harm its appeal.

 

Source: Africafeeds.com

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