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Elon Musk Completes $44 Billion Acquisition of Twitter

Published: October 28, 2022
Elon Musk completed his acquisition of Twitter for $44 billion on October 27, 2022 after months of back and forth negotiations. (Image: via Reuters)

Elon Musk, the world’s richest man, completed his $44 billion acquisition of Twitter Inc. late on Thursday, Oct. 27. His first move was to fire the social media company’s top leadership which he accused of misleading him over the number of spam accounts on the platform.

Musk terminated Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal and legal affairs and policy chief Vijaya Gadde, according to people familiar with the matter. Agrawal and Segal were in Twitter’s San Francisco headquarters when the deal closed and were escorted out, the sources added.

The completed deal ends months of back and forth negotiations after Musk first threw his hat in the ring to purchase the social media platform in April. Musk says he wants to make the platform more conducive to free speech.

Twitter, Musk and the executives did not immediately respond to requests for comment.

By Reuters. (Production: Ashraf Fahim)