Elon Musk Becomes Owner Of Twitter, Immediately Fires CEO And CFO

[Fortify]

Well according to the blog post "Elon Musk has officially become the owner of Twitter after the acquisition closed on Thursday. As reported by Reuters, Twitter’s CEO and CFO, who allegedly provided very little information and provided misinformation, was terminated from the contract and expelled from the head office.
On October 27, billionaire Elon Musk officially became the new owner of social media platform Twitter with a bid of $ 44 billion. The deal was completed after a long time when Elon Musk repeatedly changed his mind about the acquisition and went through a legal battle between the two sides.
Elon immediately fired the company’s executives and chief financial officers, Parag Agrawal and Ned Segal, and other issues. Legal issues and policy director Vijaya Gadde. These are the people Musk alleges they misled him and Twitter investors about the number of fake accounts on the social media platform".

Do you think the Tesla CEO made the right move by firing these top people in the company? There is no denying that Twitter has a lot of shot comings just like every other big platform out and needs some serious overhauling. There are so many complaints about bots and scams and those are the major area Elon intends to tackle. Hopefully, with this new ownership, we are going to see Twitter in a different state.

What are your thoughts?
 

It looks like today he also removed anyone remaining on the board of directors to consolidate his power, almost dictatorial in feel but it is clear he is an egomaniac. These two people really got the last laugh anyway, because they got to walk away with huge severance packages, could easily slide into a very senior position at an equally big company and likely have no interest in working with Elon at all. There seem to be many people now who are fed up with his endless bullsh*t and he will likely have to implement major changes, including charging for all sorts of stuff, in order to help him pay off the cost of Twitter. Even Elon knows he vastly overpaid for it.

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[Oilacris]

It is so sad that people started to use "freedom of speech" as a way of saying things that would be hurtful to others and consider it a freedom of speech. Just because you are free to say it, doesn't mean you should, there are nasty things that you could say to people that would not be acceptable in society, but allowed on twitter which is a weird dilemma.

If a famous celebrity came out and said "women are only good in kitchen, they shouldn't be acting, cook food and have sex with, that's all women are good for" then all of Hollywood would banish that actor and nobody would hire them ever again right? That's a wrong sentence that shouldn't be said right? Well on twitter you are "free" to say it, that's the problem, just because you are free to say it, doesn't mean it's an okay sentence to be tweeted.

But people are excited about learning that CEO and CFO has been fired from twitter soon after the Musk joined the Twitter headquarter
And he has also resorted the Trump account and seems like it will give Trump great benefit as the midterm elections are round the corner

He can do whatever he wants.Its his company and he had completely bought it.Whatever decisions he would make then there would be no someone could able to oppose with that.

If he do find out that there are things turns out to be that offensive or something he doesnt like then he would do make out decisions on whats inside his mind.

Fire or hiring someone on said position then it would be his choice.Now that Twitter is owned by Elon now then lets see on what are the huge changes and
overhaul that he would be making with this platform or company.

[AndySt]

He can do whatever he wants.Its his company and he had completely bought it.Whatever decisions he would make then there would be no someone could able to oppose with that. If he do find out that there are things turns out to be that offensive or something he doesnt like then he would do make out decisions on whats inside his mind.Fire or hiring someone on said position then it would be his choice.Now that Twitter is owned by Elon now then lets see on what are the huge changes and overhaul that he would be making with this platform or company.

Musk promised before the purchase that he would make Twitter a private company, so his power in the future will be even greater. The main problem of Twitter, which led to the sale of the company, is that it is still unprofitable and so could not find ways to generate solid profits. Therefore, it is quite understandable that Musk, after his acquisition of the company, dismisses the previous management, brings his people there and will directly manage the company himself. Then there will be inevitable staff cuts, which in Ilon's opinion are too many. Another question is that he also has Tesla, which is now experiencing a difficult period of time of transformation from a startup into a normal large car manufacturing enterprise and also requires a lot of attention. Will this attention be enough for both companies and will their activities suffer from this? Does he really need an additional headache and additional responsibility?

[Sithara007]

Firing the two Top empolyee is one of the best things Musk can do - many people are very happy with his decision

From what I read from mainstream media, these guys (Parag, Vijaya.etc) left with a fat paycheck. But nonetheless, their firings will be beneficial to Twitter in the long term. The first tweet that Elon put up after taking over Twitter was that "the bird has been set free". And this is exactly what happened. People like Parag and Vijaya were censoring anything that even remotely resembled right-wing viewpoint in Twitter, while protecting all the hate-speech (including calls for genocide) that was coming from the rabid left.

[Joshapat]

Now Elon Musk officially bought Twitter and the initial impact is that Doge prices have gone up more than 140% in a week, this is because the Twitter plan that will receive doge for transactions and I'm sure will have a positive impact on the market.

[SirLancelot]

Do you think the Tesla CEO made the right move by firing these top people in the company?

I don't think we're in any position to decide if it's right or wrong, or criticize his decision. The company is now his and he alone decides what is right and what is wrong for it.  but one thing I know is whenever ownership of a company a business is transferred to another person, the lay off of some staffs in some key positions is usually expected. It is usually a strategic decision to bring people that you're certain will be loyal to you and will also share in your vision for the company.

Just don't take this question seriously because any answers here won't have any effect to elon as he already made the decision and I believe that his mind won't be changed anymore. I know some of us here will think that Elon is too cruel to do this but this move is actually normal.

Even our local government does this too like if when there is a new mayor that is elected, previous staffs are also being replaced by a new one or they are being replaced by the people who are related to that new mayor. I know the old ceo and cfo of twitter already expected this to happen so they are always read to pack up their bags and leave. They can still apply to other companies since they already have a good working experience.

[Leviathan.007]

Twitter is currently one of the most famous social media and one of the oldest ones so maybe paying 44 billion to buy Twitter is not really a lot especially if you imagine the controlling this social media can give much ore power to Elon Musk by controlling this platform, in the other hand, he fired many important people from this company and this shows us that he is disagree with the correct situation of twitter and that's not surprising to see more important new like the thing about blue mark about twitter.

[virasog]

Firing the two Top empolyee is one of the best things Musk can do - many people are very happy with his decision

From what I read from mainstream media, these guys (Parag, Vijaya.etc) left with a fat paycheck. But nonetheless, their firings will be beneficial to Twitter in the long term. The first tweet that Elon put up after taking over Twitter was that "the bird has been set free". And this is exactly what happened. People like Parag and Vijaya were censoring anything that even remotely resembled right-wing viewpoint in Twitter, while protecting all the hate-speech (including calls for genocide) that was coming from the rabid left.

Do you think firing the CFO and CEO will create a lot of panic among the employees in twitter and it will create a sense of fear in terms of job security?  Let's see how it will affect Twitter in the mid to long term.

By the way, has he announced the new CFO / CEO for Twitter, or the positions are vacant for now?

Now Elon Musk officially bought Twitter and the initial impact is that Doge prices have gone up more than 140% in a week, this is because the Twitter plan that will receive doge for transactions and I'm sure will have a positive impact on the market.

Twitter has been the main source of publishing tweets about the hype of dogecoin and now since Elon Musk has bought twitter we can say that "The stage is yours" for Dogecoin tweets to again gain hype. I think the future of dogecoin is good as long as Elon musk keep supporting it.

[Sithara007]

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Do you think firing the CFO and CEO will create a lot of panic among the employees in twitter and it will create a sense of fear in terms of job security?  Let's see how it will affect Twitter in the mid to long term.

By the way, has he announced the new CFO / CEO for Twitter, or the positions are vacant for now?

There should be no surprise. Elon was very clear even before the takeover about his intentions. He one put up a tweet (in reply to someone who asked him what was the biggest issue with Twitter) where he claimed that there are 10 staff who manage for every staff who does the coding. And animosity between guys such as Parag and Vijaya with Elon was also quite public. For now, Elon Musk is the new Twitter CEO. For other posts, it may take some time to find suitable replacements and fill the vacancies.

[Kelvinid]

~~~
Do you think firing the CFO and CEO will create a lot of panic among the employees in twitter and it will create a sense of fear in terms of job security?  Let's see how it will affect Twitter in the mid to long term.

By the way, has he announced the new CFO / CEO for Twitter, or the positions are vacant for now?

There should be no surprise. Elon was very clear even before the takeover about his intentions. He one put up a tweet (in reply to someone who asked him what was the biggest issue with Twitter) where he claimed that there are 10 staff who manage for every staff who does the coding. And animosity between guys such as Parag and Vijaya with Elon was also quite public. For now, Elon Musk is the new Twitter CEO. For other posts, it may take some time to find suitable replacements and fill the vacancies.

And he doesn't need these people as he wanted to make the business runs in his new way with a new set of people that he knows will follow and support his plan. That will also be my decision if I was in his position as this might creates some misunderstanding and miscommunication if the old organization remains. But to start with a new one is just like moving for another game plan. Elon Musk is not new in business, not even new in social media, and we knows he can take risk at all cost.

[bitgolden]

And he doesn't need these people as he wanted to make the business runs in his new way with a new set of people that he knows will follow and support his plan. That will also be my decision if I was in his position as this might creates some misunderstanding and miscommunication if the old organization remains. But to start with a new one is just like moving for another game plan. Elon Musk is not new in business, not even new in social media, and we knows he can take risk at all cost.

I mean if you already have some CEO candidate in your mind, that would be good enough reason to fire someone, let alone the fact that the one he fired was openly attacking Elon until he bought it, so it was reasonable to fire him as well. Elon has just one problem, and I know it's not easy but it could be done somehow, which is not combining all of his projects together, if he tied them down it would be a lot smarter.

Imagine one company that owns solar city, tesla, spacex and twitter at the same time (and any other if he owns), they are still different companies, just owned by one big larger company, which would really work out better for him and he would have easier time handling it from one headquarters instead of going into each of them.

[Quidat]

And he doesn't need these people as he wanted to make the business runs in his new way with a new set of people that he knows will follow and support his plan. That will also be my decision if I was in his position as this might creates some misunderstanding and miscommunication if the old organization remains. But to start with a new one is just like moving for another game plan. Elon Musk is not new in business, not even new in social media, and we knows he can take risk at all cost.

I mean if you already have some CEO candidate in your mind, that would be good enough reason to fire someone, let alone the fact that the one he fired was openly attacking Elon until he bought it, so it was reasonable to fire him as well. Elon has just one problem, and I know it's not easy but it could be done somehow, which is not combining all of his projects together, if he tied them down it would be a lot smarter.

Imagine one company that owns solar city, tesla, spacex and twitter at the same time (and any other if he owns), they are still different companies, just owned by one big larger company, which would really work out better for him and he would have easier time handling it from one headquarters instead of going into each of them.

There's no such thing about hiring some candidate but rather he do make himself the sole director. 
Elon Musk named sole director of Twitter, dissolves board
Source: https://thehill.com/policy/technology/3712742-elon-musk-named-sole-director-of-twitter-dissolves-board/

So whats up into his mind? Or just simply he doesnt really want for any board and would just tend to run the company alone.
This is indeed an inevitable thing to be done by a company owner.Well, its his decision.

[coupable]

Now Elon Musk officially bought Twitter and the initial impact is that Doge prices have gone up more than 140% in a week, this is because the Twitter plan that will receive doge for transactions and I'm sure will have a positive impact on the market.

Don't be too optimistic because this is not likely to happen for technical reasons related to the Dodge coin itself. Elon Musk is not that naive to make Dodge the official currency of the platform, but he may take this step to reap profits from the high price, especially since he needs money, since all estimates indicate that the Twitter platform will not bring him profits at the near and medium levels compared to the price at which he bought it.

[Sithara007]

From what I read from mainstream media, these guys (Parag, Vijaya.etc) left with a fat paycheck. But nonetheless, their firings will be beneficial to Twitter in the long term. The first tweet that Elon put up after taking over Twitter was that "the bird has been set free". And this is exactly what happened. People like Parag and Vijaya were censoring anything that even remotely resembled right-wing viewpoint in Twitter, while protecting all the hate-speech (including calls for genocide) that was coming from the rabid left.

can you please shed light on this? I am interested in knowing more about how this firing will be affecting the company?

Elon's concern was that rather than doing any real work, most of the employees were trying to manipulate public opinion by selectively censor free speech (especially from the right). And this was very clear during the 2020 POTUS elections, when they suppressed any information on the Hunter Biden scandal, and flagged a number of Tweets from Donald Trump. The left had a free run all the time. People like Mahathir Mohamad (former PM of Malaysia) put up death threats in Twitter and was allowed to keep them.

[kotajikikox]

Do you think the Tesla CEO made the right move by firing these top people in the company?

What are your thoughts?
 

He is the Owner and he knows what is good for His company , Elon had been in the same business for how many years now, he will never become  Multi Billionaire for nothing.

What he decides is whats best for twitter , so Sorry for the kicked Bosses meaning they don't get what the Owners wanted  for his company.

Congrats  to Elon Musk for Having twitter now.

[noorman0]

In other news, Elon Musk had to sacrifice $122 million in severance pay to the fired Twitter executives.

-snip-
According to firm Equilar, the executives stood to receive separation payouts totalling around $122m (£105m)

That's probably a fair amount to free D. Trump's account from suspension, lol. Well, the overall cost of bringing back the vision of twitter as a free speech space was like the dream of the first CEO.

[hugeblack]

I read somewhere that a team of consultants at Tesla, SpaceX and other companies will run Twitter in the future, but will they succeed in the task as they succeeded in the previous companies?
The current CEO was appointed several months ago to succeed Jack, so he doesn't have much of a footprint.
Let's see how Twitter transforms after it became a private company.

[tvplus006]

Do you think the Tesla CEO made the right move by firing these top people in the company?

It would be wrong to assume that Elon Musk decision is wrong. It is obvious that Elon Musk has his own plans for the further development of Twitter and, accordingly, knows what qualities senior employees should have. If this were not the case, then Elon Musk would not have become the richest man in the world.

[Sithara007]

It would be wrong to assume that Elon Musk decision is wrong. It is obvious that Elon Musk has his own plans for the further development of Twitter and, accordingly, knows what qualities senior employees should have. If this were not the case, then Elon Musk would not have become the richest man in the world.

He is undertaking some very risky moves. The most important one is the fee of $96 per year for having the blue tick. Previously this was free for well known personalities with large number of followers. Twitter back then justified it, claiming that these people increase the popularity of the platform and bring advertisement revenue. But then, there were allegations of bias as well, due to the openly left-wing political ideology of some of its high ranking employees. The paid subscription method will bring in revenue for Twitter, and it will make the entire process more unbiased and neutral.

[Cookdata]

Firing the two Top empolyee is one of the best things Musk can do - many people are very happy with his decision

People are happy because the sack was politically motivated, however, I think Musk sack them because he felt they were playing insider politics, he thinks they should have given freedom to the people and allowed them to have free speech but they were sanctioning and blocking accounts which is wrong in his opinion.

Elon has managed different businesses that came out excellently with massive revenues, who will query his decisions on Twitter when they know that his actions will bring in profits, just look at how they planned to implement $8 for a blue tick for every user, if that becomes active in the first quarter of 2023, I imagine billions they will generate in every quarter because most of the users want that feature badly.