Saudi Press

Saudi Arabia and the world
Sunday, Jun 01, 2025

Elon Musk takes control of Twitter in $44bn deal

Elon Musk takes control of Twitter in $44bn deal

The world's richest man, Elon Musk, has completed his $44bn (£38.1bn) takeover of Twitter, according to a filing with the US government.
Musk tweeted "the bird is freed" and later said, "let the good times roll".

A number of top executives, including the boss, Parag Agrawal, have reportedly been fired.

Agrawal and two other executives were escorted out of Twitter's San Francisco headquarters on Thursday evening, according to Reuters.

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

A filing was made with the US Securities and Exchange Commission on Thursday, confirming the takeover.

The New York Stock Exchange said on Friday that trading in Twitter's shares had been suspended, giving the reason as "merger effective".

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

Twitter co-founder Biz Stone appeared to confirm the executives' departure. In a tweet, he thanked all three for their "collective contribution to Twitter", calling them "massive talents" and "beautiful humans".

Meanwhile, Bret Taylor — who had served as Twitter's chairman since last November — updated his LinkedIn profile to indicate that he was no longer in the post.

Musk, a self-styled "free speech absolutist", has been critical of Twitter's management and its moderation policies.

They clashed over the terms of the takeover, with Musk accusing Twitter of providing misleading information about the firm's user numbers.

He has also said he would reverse bans on suspended users, which could include former US President Donald Trump, who was excluded following the Capitol riot in January 2021.

At the time, Twitter said there was a risk Trump would incite further violence. But Musk has described the ban as "foolish".

Earlier this week, Musk said that he doesn't want the platform to become an echo chamber for hate and division. "Twitter obviously cannot become a free-for-all hell-scape, where anything can be said with no consequences!" he tweeted.

The takeover has prompted discussion among Twitter users over what the platform will look like under Musk's ownership.

There are fears that more lenient free speech policies would mean people banned for hate speech or disinformation may be invited back to the platform. As well as Trump, that could include political extremists, QAnon loyalists and 1Covid1-19 deniers.

In response to Musk's missive, Thierry Breton the EU commissioner for the internal market tweeted "In Europe, the bird will fly by our EU rules" suggesting regulators will take a tough stance against any relaxation of Twitter's policies.

Musk as well as being the world's richest person with $250bn to his name, is a controversial figure.

He made his fortune through the electric car company Tesla, and space exploration firm Space X. But he has drawn additional attention by his outspoken intervention in unrelated matters, often using Twitter as the platform, ranging from geopolitical issues such as the war in Ukraine to the rescue of the schoolboys trapped in a Thai cave.

It is not clear yet whether the clear out of senior management is the forerunner to company-wide job cuts. Earlier reports suggested 75% of staff at the social media company were set to lose their jobs but those reports were "inaccurate", according to Ross Gerber, a shareholder in both Twitter and Musk's other company Tesla.

"There are a lot of talented people at Twitter, especially on the engineering side and they want to retain as much of that talent as possible," Gerber told the BBC.

But he said the job losses could nevertheless extend far beyond upper management. Musk might look to cut product managers and end projects "that aren't going anywhere," he said.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
×