Musk Finalizes Twitter Acquisition Deal... Twitter CEO and CFO Leave Company

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] On the 27th (local time), one day before the deadline for Elon Musk, CEO of Tesla, to finalize the acquisition deal of the social networking service (SNS) Twitter, it was reported that he completed all transactions and secured management rights.

David Faber, a CNBC reporter, cited sources on his Twitter that day, stating that CEO Musk is now in charge of Twitter. He added that Parag Agrawal, Twitter CEO, and Ned Segal, Chief Financial Officer (CFO), have left the company and will not return.

The Financial Times (FT) also reported, citing three sources, that CEO Musk has completed the Twitter deal.

Following a court order, CEO Musk is to complete the $44 billion acquisition deal by 5 p.m. on the 28th, purchasing Twitter shares at $54.20 per share (approximately 77,000 KRW). After announcing the acquisition agreement in April, he declared the deal void in July, citing issues with fake and spam accounts, but three months later in October, he withdrew the cancellation and proceeded with the acquisition as planned.

Subsequently, on the 26th, CEO Musk posted a short video on Twitter showing himself walking into Twitter’s San Francisco headquarters building carrying a sink with a bright smile. The scene appeared staged as if he was moving in, accompanied by the caption, “Entering Twitter HQ, sink inside.” He also listed himself as “Chief Twit” on his Twitter profile. Although the term can be interpreted as “foolish boss,” it is understood as a pun implying that he will be the head of Twitter.

Before the news broke that day, he also posted an open letter to advertisers, reassuring them by emphasizing freedom of expression and stating that Twitter "cannot become a free-for-all hellscape." He said, "Our platform must be a warm and welcoming place while complying with the law," and added, "Twitter aims to be the world’s best advertising platform that strengthens your brand and grows your business."

This content was produced with the assistance of AI translation services.