Tesla CEO Elon Musk has completed his ambitious USD-44 billion takeover of Twitter. Soon after he gained control of the micro-blogging platform, Musk fired Twitter’s four top executives including CEO Parag Agrawal and legal executive Vijaya Gaddeclaimed several reports. Musk, the richest man in the world, had promised to transform Twitter by loosening the service’s content moderation rules, making its algorithm more transparent and nurturing subscription businesses. Musk, who is the CEO of Tesla, has a net worth of around $222 billion or around Rs 18 lakh 20 thousand 400 crores.
Elon Musk’s most of the earnings comes from Tesla and SpaceX. Going forward, Twitter’s revenue will also get added to his income. However, it may be noted that since Twitter is going private, the sale of its shares is suspended from trading with effect from Friday.
It may be recalled that Musk had reached out with a $44 billion deal to buy Twitter on April 25. The outspoken billionaire has said he wanted to own and privatize Twitter because he thinks it’s not living up to its potential as a platform for free speech.
Musk, whose full name is Elon Reeve Musk, was born in South Africa’s Pretoria. He was born into a wealthy family and had a knack for technology and entrepreneurship from a very young age. According to reports, he wrote and sold video game codes when he was just 12 years old. He wanted to settle in America and since his mother was born in Canada, he got a Canadian passport when he was around 17 years old. Musk became a US citizen in 2002.
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Musk had founded a web software company named Zip2 along with his brother Kimbal which was sold for $307 million four years later. He also co-founded an online bank X.com which later became PayPal after merging with Confinity. He founded SpaceX in 2002. Musk invested in Tesla Motors in 2005 and became its largest shareholder and chairman of the board of directors.