29 Oct 2022

Elon Musk Takes Control Of Twitter: What Big Changes Are Expected

Elon Musk has taken control of Twitter and removed its CEO Parag Agrawal and at least two other top executives.

Possibility of dramatic change: His quick dismissal of Twitter's top two executives including CEO Parag Agrawal raises the possibility of dramatic change at the social media company in the days to come. And where Musk takes Twitter now is anyone's guess.

With Musk taking the helm, attention will turn to what steps he can take to rejuvenate Twitter, whose growth has slowed sharply in recent years. 

In the short term, that could involve laying off up to three-quarters of Twitter's staff, The Washington Post reported last week. Musk, who has been vocal in saying he overpaid for Twitter, could cut labour costs as a way to balance the books.

More challenging will be developing a plan to drive growth at Twitter. Its about 238 million regular users are much less in numbers compared to other social networks like Facebook and TikTok. 

On that front, Musk has earlier floated the idea of creating a "super app," (which Musk has previously referred to as "X app") like WeChat. In China it is used for everything from banking to buying groceries and chatting with friends.

Will Trump return to Twitter: Also remaining to be seen is how Musk might change Twitter's user policies. It also remains to be seen if former President Donald Trump would be allowed back on Twitter. Twitter had permanently suspended him from the platform last year in the aftermath of the January 6 assault on the U.S. Capitol, citing the risk of further violence.

"I am very happy that Twitter is now in sane hands, and will no longer be run by Radical Left Lunatics and Maniacs that truly hate our country," Trump said Friday in a post 

As reported earlier, Twitter CEO Parag Agrawal and Twitter's chief financial officer and top lawyer have been shown the door.

However, it is still not clear if all the paperwork for the deal, originally valued at $44 billion, had been signed or whether the deal had closed. But sources said Musk is in charge of the social media platform. 

However, Musk himself tweeted late Thursday that "the bird is freed," referring to Twitter's famous logo and indicating he was indeed in charge.   

The move to close the deal has come a day before a court-imposed deadline to finalize the transaction.

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