Updating with new info/correction in graf 3.
KUALA LUMPUR, Oct 28 – American business magnate has completed his US$44 billion acquisition of Twitter, becoming its new owner and firing top executives including the CEO Parak Agarwal.
He also fired chief financial officer Ned Segal and general counsel Sean Edgett.
In a clip posted on his Twitter account, Musk is seen entering the Twitter office earlier this week with a sink, indicating his ownership of the social media platform and with a tweet “Let it sink in”.
In his tweet, Musk said he acquired Twitter as he saw it was important for the “future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence. There is currently great danger that social media will splinter into far right wing and far left wing echo chamber that generate more hate and divide our society.
“Much of traditional media has fueled and catered to those polarized extremes, as they believe that is what brings in the money, but, in doing so, the opportunity for dialogue is lost.”
The South African-born Musk cofounded the electronic-payment firm PayPal and is also known among space enthusiasts for his establishment of a private space company, SpaceX, which makes launch vehicles and spacecraft.
He is also one the major funders of the electric car manufacturer, Tesla.