Elon Musk Completes $44B Twitter Takeover, Revives Vine Poll
Elon Musk has completed his $44 billion acquisition of Twitter, transforming the company from public to private ownership. The takeover has led to significant changes, including the departure of top executives and the initiation of a poll to revive the short-video platform Vine.
Musk finalised the buyout on October 27th, following months of negotiations and a legal battle. The deal saw the immediate exit of Twitter's chief executive, Parag Agrawal, along with other top bosses, including chairman Bret Johnsen and finance chief Ned Segal. Despite reports of potential mass layoffs, Musk has denied these rumours, stating that no significant job cuts will occur before November 1st, when Twitter employees are due to receive share grants.
In his first move as Twitter's new owner, Musk initiated a poll on the platform, asking users if they wanted the short-video app Vine to return. The poll received over 4 million votes, with the majority in favour of reviving the service. Interestingly, it was Musk himself who proposed the revival of Vine, which was shut down by Twitter in 2016. This decision signals Musk's intention to explore new features and content formats on the platform.
Elon Musk's takeover of Twitter has marked a significant shift in the company's ownership and leadership. With the departure of top executives and the initiation of a poll to revive Vine, Musk has wasted no time in implementing changes. As the company transitions to private ownership, Twitter users and employees alike await further developments under Musk's leadership.
