The world’s richest man, Elon Musk, has completed his 19.2trn ($44bn) takeover of Twitter.
Musk on early hours of Thursday, 28, 2022, tweeted “the bird is freed”, in an apparent reference to the deal closing.
A number of top executives, including the boss, Parag Agrawal, have reportedly been fired.
It brings to a close a saga that saw Twitter go to court to hold the multi-billionaire to the terms of a takeover deal that he had tried to escape.
Twitter has not yet confirmed the takeover, but an early investor in the company told the BBC that the deal had been completed.
Musk’s early investments in Twitter initially escaped public attention. In January, he began making regular purchases of shares, so that by the middle of March he had accumulated a 5% stake in the firm.
In April, he was revealed as Twitter’s largest shareholder, and by the end of the month, a deal was finally reached to buy the company for $44bn.
He said he planned to clean up spam accounts and preserve the platform as a venue for free speech.
But by mid-May Mr Musk, a prolific Twitter user, had begun to change his mind about the purchase, citing concerns that the number of fake accounts on the platform was higher than Twitter claimed.
In July, he said he no longer wished to acquire the company. Twitter, however, argued the billionaire was legally committed to the acquisition and eventually filed a lawsuit to hold him to the deal.
In early October, Mr Musk revived his takeover plans for the company on condition that legal proceedings were paused.
There has been no comment yet from Twitter about its new management team, but whoever becomes its next chief executive, it is clear that Mr Musk will ultimately be in charge of the company.
