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Twitter is Taken Over by Elon Musk as the CEO and CFO Leave the Building.

The completion of Elon Musk’s purchase of Twitter gives the richest man in the world control over one of the most important social media networks and fuels expectations for significant advancements in content management.

Following months of legal fighting, Musk now has the chance to redesign the platform in an effort to make it more lucrative and less censorship-prone, perhaps by bringing back former President Donald Trump to the network.

Musk took over the company on Thursday night, according to sources quoted by the Washington Post. A number of high-ranking employees have been let go, including Twitter CEO Parag Agrawal, CFO Ned Segal, and Director of Legal Policy, Trust, and Safety Vijay Gadde.

In his proposals for tactics to lessen Twitter’s content management efforts, Musk has argued for a “free speech absolutist” approach to content regulation. He made it clear during his participation in a TED conference that the company will only control content in accordance with regional laws. Musk said, “If in doubt, let it exist.”

Musk promised to make sure the platform wouldn’t turn into a “free for all hellscape” and that it was inclusive in a statement to advertisers on Thursday.

Twitter is Taken Over by Elon Musk

In earlier interviews, Musk said he was thinking about ways to get the platform lucrative, but on Thursday he said that wasn’t the point and that he was buying the platform for the benefit of humanity. Only half of the advertisers currently use Twitter, therefore it is unclear whether marketers will stick with it or switch to other platforms, according to a 2021 survey.

Whether Trump will be allowed to return to the platform is a major early worry. The billionaire said he would restore Trump and argued that the initial ban was unethical. Musk has called Truth Social, Trump’s answer to Twitter, a “right-wing echo chamber” in particular.

Twitter employees have voiced their displeasure with Musk’s acquisition and its effects on the company. 
At least 300 employees have left the company since the initial offer, and more are certain to do so after the transaction is completed. 
Musk and Twitter denied the first speculations, which claimed that at least 75% of the employees will be laid off.
Musk and Twitter have settled their legal dispute after several months of litigation.  Due to allegations that Twitter had inflated the number of users on its platform in its public filings, the billionaire gave up on his April attempts to acquire the business in July. 
Swiftly after Musk’s initial offer, Twitter filed lawsuit in the Delaware Court of Chancery to compel Musk to accept it.  After initially refusing, Musk gave in and decided to buy at the original price at the beginning of October.

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