BREAKING: Elon Musk Fires Twitter CEO and other Top Executives

BY: News Peddlers 

Elon Musk, the CEO of Tesla and the new owner of Twitter, has fired Chief Executive Officer Parag Agrawal and several other top executives following his $44 billion acquisition of the social media platform.

Ned Segal, Twitter's chief financial officer, was fired on Thursday, as was Vijaya Gadde, the company's top legal and policy executive, and Sean Edgett, the company's general counsel since 2012.

Mr. Musk completed his takeover of Twitter before the October 28 deadline set by the court.

His actions followed rumors of mass layoffs following his acquisition of the company.

According to an exclusive report by The Washington Post last week, Mr Musk told prospective investors that as part of his deal laws of the land, "our platform must be warm and welcoming to all, where you can choose your desired experience based on your preferences," he tweeted. "Fundamentally, Twitter aspires to be the world's most respected advertising platform, strengthening your brand and growing your business... Let us work together to create something extraordinary."

According to Reuters, Mr Musk's lawyers delivered the paperwork for the financing commitment to equity investors such as Sequoia Capital, Binance, Qatar Investment Authority, and others on Tuesday.

Mr Musk agreed to buy the company in early October for $54.20 per share, the price he agreed to pay in April after a lengthy legal battle over the terms of the acquisition deal.

Mr Musk attempted to back out of the deal in July by officially notifying the agreement's termination. However, Twitter petitioned the court in July to compel him to complete the transaction.

"Musk refuses to honor his obligations to Twitter and its stockholders because the agreement he signed no longer serves his personal interests," Twitter stated in the lawsuit. "Musk appears to believe that, unlike every other party subject to Delaware contract law, he has the right to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away."

Mr Musk accused Twitter of withholding information about spam bots, also known as fake accounts, on its platform. He insisted that he did not believe the company's public claims that approximately 5% of its active users were bots.