- CNBC’s David Faber reported that Tesla CEO Elon Musk is now accountable for Twitter.
- Twitter CEO Parag Agrawal and chief monetary officer Ned Segal have left the corporate’s San Francisco headquarters.
Tesla CEO Elon Musk is now accountable for 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 non-public. Only a few months later, nevertheless, Musk started sowing doubt about his intentions to purchase Twitter and would allege that the corporate didn’t adequately disclose the variety of spam and pretend 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 as a result of the deal he signed now not serves his private pursuits.”
Within the ensuing months, Twitter and Musk would commerce barbs through their attorneys as the 2 events had been slated to go to Delaware’s Court docket of Chancery to decide the destiny of the corporate and whether or not it is future would find yourself within the Tesla chief’s palms.
Earlier in October, Musk had a change of coronary heart and stated he needed 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 legal professionals stated that the Tesla CEO’s “proposal is an invite to additional mischief and delay.”
A Delaware Chancery Court docket decide finally 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 providers would not devolve into “a free-for-all hellscape, the place something could be stated with no penalties!”
“The rationale I acquired Twitter is as a result of it is very important the way forward for civilization to have a standard digital city sq., the place a variety of beliefs could be debated in a wholesome method, with out resorting to violence,” Musk stated within the message. “There’s at the moment nice hazard that social media will splinter into far proper wing and much left wing echo chambers that generate extra hate and divide our society.”
Musk arrived on the Twitter headquarters earlier this week carrying a sink, and documented the occasion on Twitter, saying “Getting into Twitter HQ – let that sink in!”
The Tesla chief additionally up to date his Twitter description to “Chief Twit.”
This story is creating, please examine again for updates.