We already know that Elon Musk bought the popular microblogging site Twitter for $44 billion. Now the latest news is that Musk is most likely to become the new Chief Executive Officer of the social media platform. To express it in a simple line, Twitter is now an Elon Musk company.
Recently, Musk has reportedly fired on the current CEO Parag Agarwal as well as policy chief Vijaya Gadde. Musk is planning to reverse the life-time bans that Twitter had imposed on its most abusive and troublesome users. The reversal of bans is directly going to aid former president of the US Donald Trump, who was banned from Twitter earlier.
After a while, Musk may step aside and appoint some other CEO but in the beginning he desires to be in the hot seat. He believes that he was doing something monumental by purchasing Twitter, and something that would have a profound effect on human society and civilisation.
Musk stated the reason why he bought Twitter, saying, “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. That is why I bought Twitter. I didn’t do it because it would be easy. I didn’t do it to make more money. I did it to try to help humanity, whom I love.”
Musk was invited to take a seat at the Board of the company at around 10% stake. He made a bid to buy the platform for around $44 billion, a deal that was okayed by Twitter after some deliberations. Twitter, however, said that Musk needed to honour his deal. It went to court. A few weeks ago, he told the court that he would honour the deal. The court then mandated that Musk must complete the purchase of Twitter by the 28th of October or else the lawsuit would proceed.