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Musk In Control Of Twitter, But Plans for the Company Still Uncertain

By 10/28/2022 1:05 PMNo CommentsBy YidInfo Staff

After months of ambiguity and a protracted legal struggle, Elon Musk has taken over Twitter.

The question at hand is what the millionaire CEO of Tesla will actually do with the social media platform.

Three senior Twitter executives were fired on Thursday, according to two persons familiar with the situation who claimed to work for Musk.

Such a change was widely anticipated, but Musk has made numerous inconsistent claims about his goals for the business and offered few specific ideas for how he intends to operate it.

The people refused to confirm whether all the necessary documents for the $44 billion deal had been signed or whether it had closed.

Per a Delaware judge’s ruling, the agreement had to be completed by Friday.

Musk tweeted, “the bird is liberated,” late Thursday about Twitter’s emblem.

Users, marketers, and staff at Twitter are analyzing Musk’s every move to predict where he might lead the firm.

The forthcoming elections in Brazil, the U.S., and other countries have increased interest in whether he will let some prominent conservative figures who were banned from Twitter return.

It’s been challenging to predict the erratic Musk’s actions.

Musk has criticized Twitter’s reliance on advertisers, but on Thursday, he delivered a statement that appeared to allay their concerns.

He has expressed displeasure with speech limitations on the platform, but he has also committed to preventing it from turning into a “hellscape.”

Musk signed a contract to buy Twitter in April, but when he tried to back out, the firm sued to make him complete the purchase.

The Delaware Chancery Court mandated the Friday deadline for the transaction’s completion in early October.

In preparation for Twitter becoming private under Musk, the New York Stock Exchange informed investors that it would suspend trading in Twitter shares before Friday’s opening bell.

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