Elon Musk is in Charge of Twitter: “The Bird is Freed”

The ongoing Twitter battle seems to have come to an end with Elon Musk tweeting, “the bird is freed” last Thursday. 

CNBC learned that Twitter CEO, Parga Agrawal, and Financial Chief, Ned Segal, left the company’s headquarters on Thursday and will not return. It was also reported by the Washington Post that the head of policy, trust and safety had been fired. 

Here’s a brief breakdown of the drama:

Musk signed on to buy the company in April. He then wanted to back out on the deal with his main argument being that Twitter was under-counting/misrepresenting the number of fake accounts or “spam bots” on its platform, according to PBS. 

Twitter sued Musk after he announced the deal was off. CNBC reported Twitter’s reason for the lawsuit “alleging he refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.” 

Musk changed his mind yet again at the beginning of this month. “He wanted to pursue his acquisition of Twitter at the original price of $54.20 a share if the social messaging service dropped its litigation.”

It looks like Musk acted just in time considering a Delaware Chancery Court judge ruled that “Musk had until Oct. 28 to cement the Twitter deal or head to trial,” per CNBC.

Last week, before the official announcement, Musk dropped several hints on Twitter alluding to his takeover including updating his Twitter bio to “Chief Twit.” He also entered the Twitter headquarters in San Francisco carrying a sink, documenting the event in a tweet writing, “Entering Twitter HQ – let that sink in!”