Elon Musk Officially Owns Twitter: Deal Completed, Execs Reportedly Fired

Elon Musk officially added a new CEO title to his resume after formally completing his acquisition of Twitter on Thursday evening, according to Reuters. The Tesla boss narrowly beat a deadline placed on the deal that had been given to him by a Delaware Chancery Court judge.

The completion of the deal came amid reports Musk fired Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal, Reuters reported, citing "people familiar with the matter." Vijaya Gadde, the company's legal affairs and policy chief, was also fired.

Judge Kathaleen St. J. McCormick had given Musk until 5 p.m. ET on Friday to complete the merger for Twitter or be forced to go to trial in November. Musk originally agreed to a $44 billion merger in April, but he later tried to back out of his proposal. Musk cited high levels of bots and spam on the social media platform as his reason for nixing the deal, but Twitter denied his claims that the company had undercounted fake accounts.

Musk signaled that the Twitter deal was imminent when he visited the company's San Francisco headquarters on Wednesday. The Tesla and SpaceX CEO carried what appeared in photos to be a porcelain sink in his hands during the visit.

"Entering Twitter HQ – let that sink in!" Musk tweeted with a video of the Twitter office appearance.

Elon Musk visits Twitter
This photo of Elon Musk was taken from a video grab taken from a video he posted on his Twitter account on October 26, 2022, when he visited the Twitter headquarters in San Francisco. Musk officially completed his acquisition of Twitter after months of delays. Photo from Twitter account of Elon Musk/AFP via Getty Images

When Musk first announced his intentions to buy Twitter, he said he wanted to make room for more public debate on the platform with fewer restrictions. His acquisition of Twitter could possibly allow for the return of former President Donald Trump, who was banned permanently two days after the January 6 attack on the U.S. Capitol.

"I do think it was not correct to ban Donald Trump; I think that was a mistake," Musk said during a conference in the spring.

Trump, however, has said he would not return to Twitter if the ban was lifted, instead preferring to stay on his own social media outlet, Truth Social.

Musk tried to end the deal in July, which resulted in Twitter suing him in an attempt to force him to go through with the plan. Musk countersued with a legal filing that said Twitter hid the actual number of bots on the platform.

After lawyers from both sides issued more than 100 subpoenas, Musk proposed on October 4 that he go forth with his original $44 billion offer. On October 6, Judge McCormick agreed to stay the trial and imposed the October 28 deadline.

Musk recently posted a message on Twitter that seemed to be an attempt to alleviate concerns about his seizing control of the company, saying he didn't want the platform to turn into a "free-for-all hellscape."

"The reason I acquired Twitter is because it is important to 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," Musk wrote. "There is currently great danger that social media will splinter into far right wing and far left wing echo chambers that generate more hate and divide our society."

Newsweek reached out to Twitter for comment.