Shocking Elon Musk Twitter Moves After the $44B Deal Last Week

By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team
Published on November 1, 2022

Elon Musk closed the Twitter deal last week, spending $44 billion for ownership of the company, coming in ahead of the court deadline. That very day, he started shaking things up, and it has not stopped since, with a lot happening over the weekend. That includes news about layoffs, upcoming changes at Twitter, and plenty of controversy as Musk navigates his new role as Chief Twit.

Top executives got the boot: Elon Musk himself ushered in the new era of Twitter by firing top executives at the company. The action took place soon after Musk’s takeover in what felt like a firm show of power.

  • Those fired included chief executive Parag Agrawal, chief financial officer Ned Segal, the company’s general counsel Sean Edgett, and Vijaya Gadde, head of legal policy, trust, and safety.
  • Musk’s actions came after vocal criticisms of how outgoing management dealt with content moderation and other issues. His stance included condemning actions taken against former president Donald Trump.

Remaining executives gathered: Over the weekend, executives that survived the small purge got together. They discussed various issues, such as content moderation, spam, and impending layoffs.

  • Alex Spiro, a lawyer under Elon Musk, led the conversations. He is currently active in leading many teams, including legal, government relations, policy, and marketing.

Layoffs were overblown: The conversation about layoffs over the weekend mentioned potentially laying off around 25% of the employees at the company as a start. While that is a lot, it is far lower than the false 75% that was going around prior to the Twitter purchase, which Elon Musk said was false.

  • The layoffs are expected to touch every department. Particularly, it will affect sales, product, engineering, legal, and trust and safety.
  • According to an anonymous source that spoke to The Washington Post, the percentage of people that will be laid off will likely be closer to 50%.

Musk’s associates joined the party: David Sacks and Jason Calacanis appeared in the company directory over the weekend. These two associates of Elon Musk received the job title of “staff software engineer.” He also brought Tesla engineers in to inspect Twitter’s software code.

Musk ditched the board: He also dismissed the board of directors over the weekend. The act puts more power in Musk’s hands, which is exactly where he wants it as he ramps up to make major changes at Twitter.

Internal information at Musk’s fingertips: Since the takeover, Musk and his team have been looking at internal information. They are looking into and asking questions about everything from moderation and spam to the risks of the upcoming elections.

Verification idea sees pushback: An idea to revamp the verification of high-profile users has seen a lot of recoil. Elon Musk discussed potentially charging $20 for the blue check verification on the platform. It is seen as a quick way for Twitter to turn a profit.

  • The importance of verification is more than just proving that a user is legitimate. It also influences the algorithm to boost users on Twitter.
  • A poll revealed that more than 81% of respondents would not pay for the perk. The result makes it even more uncertain whether the change will occur.

National security: There have been those that brought up concerns about national security. Some politicians have implied it was an issue due to the investments of firms tied to Saudi Arabia and the tension between the counties. They have called for a review of the deal.

Musk’s own misinformation: Perhaps the most explosive thing to happen since the takeover is Elon Musk’s tweet about the attack on Nancy Pelosi’s husband, Paul. He sent out a tweet saying that “There is a tiny possibility there might be more to this story than meets the eye,” including a link to a site known to publish misinformation. Musk took down the tweet after, but there was backlash for both posting and removing the tweet. The Twitter takeover has a long way to go.

By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team

Spencer Hulse is the Editorial Director at Grit Daily. He is responsible for overseeing other editors and writers, day-to-day operations, and covering breaking news.

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