Elon Musk now in charge of Twitter, CEO and CFO have left, sources say

SpaceX Chief Engineer Elon Musk takes half in a joint information convention with T-Mobile CEO Mike Sievert (not pictured) on the SpaceX Starbase, in Brownsville, Texas, U.S., August 25, 2022.

Adrees Latif | Reuters

Tesla CEO Elon Musk is now in charge of Twitter, CNBC’s David Faber reported on Thursday.

Twitter CEO Parag Agrawal and chief monetary officer Ned Segal have left the corporate’s San Francisco headquarters and won’t be returning.

Musk had till Friday to finish his $44 billion acquisition of Twitter or face a court docket battle with the corporate.

In April, Twitter accepted Musk’s proposal to purchase the social media service and take it personal. Just a number of months later, nevertheless, Musk started sowing doubt about his intentions to purchase Twitter and would allege that the corporate did not adequately disclose the quantity of spam and faux accounts on the service.

When Musk stated 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.”

In the following months, Twitter and Musk would commerce barbs by way of their attorneys as the 2 events have been slated to go to Delaware’s Court of Chancery to find out the destiny of the corporate and whether or not it is future would find yourself in the Tesla chief’s palms.

Earlier in October, Musk had a change of coronary heart and stated he wished to pursue his acquisition of Twitter on the authentic worth of $54.20 a share if the social messaging service dropped its litigation. Distrustful of Musk’s motivations, Twitter’s attorneys stated that the Tesla CEO’s “proposal is an invitation to further mischief and delay.”

A Delaware Chancery Court choose ultimately dominated that Musk had till Oct. 28 to cement the Twitter deal or head to trial.

On Thursday, the billionaire additionally wrote a message supposed to reassure advertisers that social messaging companies would not devolve into “a free-for-all hellscape, where anything can be said with no consequences!”

“The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence,” Musk stated in the message. “There is currently great danger that social media will splinter into far right wing and far left wing echo chambers that generate more hate and divide our society.”

Musk arrived on the Twitter headquarters earlier this week carrying a sink, and documented the occasion on Twitter, saying “Entering Twitter HQ – let that sink in!”

The Tesla chief additionally up to date his Twitter description to “Chief Twit.”

This story is creating, please test again for updates.

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