Elon Musk finalized his Twitter takeover this week.
On the surface, he appears to have significantly overpaid for a site that seems rampant with bots.
For that very reason, he took a sledgehammer to upper management and fired them all.
Gone
As soon as Musk walked in the door, heads started to roll.
Twitter CEO Parag Agrawal, CFO Ned Segal, and Vijaya Gadde, head of legal policy, trust, and safety were fired.
Musk believes the three of them were lying to him all along about the number of bots working the site.
Musk was backed into a corner on the deal, with a deadline of October 28 recently posted by a judge.
If the deal was not settled at that point, litigation would begin.
So, Musk threw caution to the wind and plopped $44 billion down on the table.
After the takeover, Musk stated, "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.
"There is currently great danger that social media will splinter into far right and far left-wing echo chambers that generate more hate and divide our society."
What will this mean for Twitter financially?
Fox Business takes a quick look…
Source: Fox Business
