The founder of Tesla, Elon Musk, has closed the deal to buy Twitter for $44 billion. The former CEO Parag Agrawal and chief financial officer Ned Segal have left the company’s headquarters, according to CNBC.
the bird is freed
— Elon Musk (@elonmusk) October 28, 2022
“The bird is free,” commented Musk on the closing of the deal.
According to Reuters, the billionaire has already begun making initial layoffs. In addition to Agrawal and Segal, Vijaya Gadde, head of legal policy, and chief counsel Sean Edgett left the company.
According to Bloomberg, Musk asked Tesla engineers to meet with Twitter developers to review the product’s code.
Binance CEO Changpeng Zhao, in comments to CoinDesk confirmed that the Bitcoin exchange participated in financing the deal.
“We aim to play our role in uniting social networks and Web3 to broaden the use and adoption of cryptocurrencies and blockchain technologies,” Zhao said.
In May, Musk indicated in a filing with the SEC that Binance provided him with $500 million for the Twitter purchase. On 25 October, the head of the platform confirmed the intention to finance the deal. Zhao later clarified that the funds were probably wired “around the time I was asked about Elon/Twitter.”
Our intern says we wired the $500 million 2 days ago, probably just as I was being asked about Elon/Twitter. https://t.co/gM65GHUnZC
— CZ 🔶 Binance (@cz_binance) October 28, 2022
In early April, Musk became Twitter’s largest shareholder after acquiring 9.2% of the shares for $2.89 billion.
On 14 April, he proposed to buy the social network for more than $43 billion. The entrepreneur said the aim was to create an “inclusive arena for freedom of speech,” not to profit.
However in May the billionaire announced a pause in the Twitter purchase after reports that the platform overestimated its audience metrics. He also accused the algorithms of manipulating users.
Twitter shareholders sued Musk over the “chaotic process” of the takeover. In July the businessman filed a countersuit.
On 4 October it emerged that the entrepreneur was again pursuing the takeover on the original terms — $54.2 per share.
Earlier, on October 27, Musk posted a video of visiting Twitter’s headquarters, hinting at the deal’s closure.
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