Elon Musk begins Twitter ownership with firing top executives

On Thursday, last week, Elon Musk finally acquired Twitter. His first act as head of the company was to fire top executives, but along with this he also clarified how he sees the future of the company and the social network and what he plans to achieve.

The reason for the dismissal of the company's top managers was that, in Musk's opinion, they reported unreliable figures to investors about the number of fake accounts on the social network. Thus, following Musk's acquisition of Twitter, CEO Parag Agrawal, CFO Ned Segal and legal affairs and policy chief Vijaya Gadde were fired. After the wave of layoffs, some employees were also worried about their future, but Musk assured them that the worries were unnecessary.

Right after the deal was closed, Musk made a post on his Twitter page "the bird is freed," referring to the company bird logo. Most likely, Musk also implies that with his arrival, there will be less censorship of content published on Twitter. Although some advertisers are concerned about such news, Musk assured that Twitter will still remain attractive. 

Among the goals Musk wants to achieve after the purchase are defeating spam bots and more transparent algorithms to help understand how content is tailored to a particular user.

Musk briefly described his further plan of action. According to him, the main goal of buying Twitter wasn’t to make money, but to help humanity. Musk also doesn’t deny the expansion of Twitter's options. For example, the businessman talks about such additions as money transfers and ride-hailing.

Twitter shares were up 0.3% to $53.86 Thursday after the deal was closed, just under the agreed price, which is $54.20 per share.