Twitter Takeover has been completed and the SpaceX and Tesla CEO Elon Musk has officially become the new boss. Just a few hours after completing the $44 billion takeover, Musk reportedly fired some of Twitter’s top executives, including CEO Parag Agrawal, Chief Financial Officer (CFO) Ned Segal and legal affairs and policy chief Vijaya Gadde, according to media reports.
In the past, he had accused the CEO of misleading him and Twitter investors over the number of fake accounts on the social media platform.
While the names of the fired employees are yet to be officially confirmed by Twitter, a report in The New York Times cited people aware of the matter and said that Musk “has started cleaning house at Twitter with the firings of at least four top executives.”
Musk reportedly walked into Twitter’s headquarters with a big porcelain sink and changed his Twitter profile bio to Chief Twit, subsequently Tweeting, "let that sink in."
“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 said in a recent statement.
The Twitter vs Elon Musk spat is not new. Ever since the billionaire Chief Twit announced his intentions to acquire the micro blogging platform, he stayed at odds with the now fired top management. From concerns related to the number of bots on Twitter to the company not disclosing ‘important’ information, all reasons made headlines when Musk decided to pull out of the deal.
But at the centre of all this, stayed Agrawal and Musk himself.
The New York Times report also added that at least one of the fired executives was escorted out of Twitter’s office.
Since the Twitter deal has been completed, many have been asking that why Agrawal, 38, is among the first ones to be allegedly fired by Musk. Let’s take a look.
Here’s Why Elon Musk Fired Parag Agrawal
In November last year, Twitter’s co-founder Jack Dorsey stepped down as the CEO, sending shock waves to many. It was then that Agrawal, an IIT Bombay and Stanford alum, was appointed the new CEO. While the alleged former CEO’s rise to the top position was hailed by many, his constant clash with Musk ever since the billionaire announced his intent of a takeover, made more headlines than one could imagine.
The New York Times report mentioned that Agrawal clashed with the Chief Twit about the takeover, both publicly and privately in the recent months. It also added that Musk also criticised Gadde for the role in content moderation decisions at the company.
While Musk recently refuted reports of sacking 75 per cent of Twitter workforce, the alleged firing of company’s top executives has surprised many.
Earlier this year, Twitter accepted the billionaire’s offer to buy the micro blogging platform and take it private. However, no sooner did the deal’s terms started unfolding, than Musk started having doubts about completing the same, alleging that Twitter had failed to disclose the number of spam and fake accounts on the platform.
So when Musk decided to terminate the Twitter takeover deal, the company sued the Chief Twit alleging that he refused to honour his obligations. As the legal battle took form, Musk took a u-turn and proposed acquiring Twitter at the original price, if the company dropped its litigation. Today, as we know it, Musk is the new Twitter boss or the largest shareholder in the company.
While none of the parties involved have confirmed the reasons behind removal of Agrawal and other top executives, many experts saw something coming for them, especially after the messy takeover saga got over. According to media reports, Agrawal is expected to get around $42 million due to this termination. However, an official confirmation is awaited.
