NewsletterBreaking: Elon Musk Closes Twitter Deal, Fires CEO, CFO
Elon Musk has taken full control of Twitter. Reports highlight that Musk and Twitter formally closed the deal on Thursday evening. Parag Aggarwal has resigned as the CEO of Twitter. Some conflicting reports also reveal that Musk indeed fired Parag and escorted him out of the building.
Twitter CFO Ned Segal has also resigned from the position. Both former CEO Parag Aggarwal and Segal have left the San Francisco headquarters for the last time. Reports also highlight that Musk has fired Twitter’s head of legal policy, who made the decision to fire Trump.
Twitter’s share prices are up by 0.3% in the after-hours. However, Twitter shares will be suspended from trading until the deal is formally announced.
Elon Musk Twitter Deal Timeline
After publicly criticizing Twitter for censorship and its bots issue, Musk joined the company’s board. However, soon Musk extended an offer to Twitter’s board to buy the company at a $44 billion price. This was equivalent to a price of $54.20 per share.
Musk however reneged on the offer as he complained that Twitter underreported its bots problem. Twitter sued Musk for tanking the company’s stock by reneging on its offer. Eventually, Elon Musk informed Twitter that he will buy the company at the original price.
Musk wants to make Twitter censor-resistant so that people can share their views without interference. He wants Twitter to be a common ground so that the platform is not split between far-left and far-right views. He also wants to solve the issue of bots on Twitter and make Twitter’s code open-source.
Musk engaged in humor as the deal came close to being done. Musk updates his Twitter profile and called himself the “Chief Twit”. He also brought a sink to the Twitter headquarters.
Twitter Share Inches Towards Offered Price
Elon Musk offered to buy Twitter at the price of $54.20 per share. When Musk reneged on the offer, Twitter’s stock plummeted. However, since the deal came back on the table, the share prices are close to returning to the original price.
Twitter shares are currently priced at $53.70.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Breaking: Labor Department Cancels October PPI Inflation Report Ahead of FOMC Meeting
- FOMC Meeting: Fed Expected to Approve Rate Cut on Dec. 10
- Bernstein Declares Bitcoin’s Four-Year Cycle Dead, Predicts $1M Target for BTC
- Breaking: Tether’s USDT Secures New Abu Dhabi Global Market Approval After Ripple’s RLUSD
- Ethereum Sees Fresh Tailwind as BlackRock Files for Staked ETH ETF
- Shiba Inu Price Eyes a Rebound as Exchange Supply Nosedives by 53 Trillion
- Dogecoin Price Prediction: Will $0.30 Be Next Target for DOGE?
- Top 3 XRP Price Predictions for December 2025: Could It Reach These Levels?
- Here’s Why Bitcoin Price Will Rally To $100k This Week
- Bittensor Price Breaks Above $300, Eyeing a 50% Surge Ahead of Halving
- Ethereum Price Holds $3,000 as Bitmine Scoops Up $199M in ETH; What Next?
