Elon Musk has completed his $44bn (£38.1bn) takeover of Twitter, according to a number of media reports and an investor in the firm.
Twitter’s chief executive and finance boss have reportedly left with immediate effect.
It brings to a close a saga that saw Twitter going to court to hold Mr Musk to the terms of a takeover deal that he had tried to escape.
Mr Musk tweeted his interest in the platform was not about making money.
Twitter’s chief executive, Parag Agrawal, and chief financial officer Ned Segal are no longer with the company, according to US media reports.
The social media platform’s shares will be suspended from trading on Friday, according to the New York Stock Exchange’s website.
Mr Musk said he bought it to help humanity and wanted “civilization to have a common digital town square”.
Earlier this week Mr Musk tweeted a video of himself walking into Twitter’s headquarters in San Francisco carrying a kitchen sink with the caption: “let that sink in!”
He also changed his Twitter profile to read “Chief Twit”.
Image source,
Elon Musk carrying a sink into Twitter HQ
Many analysts argued the price Mr Musk is now paying for the company is too high given the decline in the values of many tech stocks and Twitter’s struggle to attract users and grow.
On a recent earnings call, the Tesla founder said Twitter was “an asset that has just sort of languished for a long time, but has incredible potential, although obviously myself and the other investors are overpaying for Twitter right now”. BBC
