Breaking: Elon Musk has taken over Twitter as former CEO and CFO leave

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Twitter logo (Image credit: Twitter)

Chief Twit has taken over the building.

According to CNBC's David Faber, Elon Musk has officially taken over the reins of Twitter. The co-host of CNBC's morning show Squawk on the Street took to share that former CEO Parag Agrawal and CFO Ned Segal had reportedly left Twitter's headquarters in San Fransisco on Thursday night and would not be returning to the company:

Elon Musk is now in charge at Twitter. I'm told former CEO Parag Agrawal and CFO Ned Segal have left the company's HQ and will not be returning as the Musk era begins.

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The Elon era of Twitter begins

The departure of Agrawal and Segal seems to confirm that Musk has officially acquired the company. Musk had until the end of the day on Friday to close the deal before being sent to resolve the acquisition in court and, with today's news, seems to have accomplished just that.

Earlier today, Musk took the platform to provide some insight into his thoughts for the platform moving forward. The billionaire said that he would not allow the platform to turn into a "free-for-all hellscape."

“There had been much speculation about why I bought Twitter and what I think about advertising. Most of it has been wrong. Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!”

He also touched on some thoughts about advertising on the platform, saying that "relevant ads" (or personalized advertising) were coming in the future.

“I also very much believe that advertising, when done right, can delight, entertain and inform you. For this to be true, it is essential to show Twitter users advertising that is as relevant as possible to their needs. Low relevancy ads are spam, but highly relevant ads are actually content."

Musk has seemed to have succeeded in acquiring the company for the original offer of $44 billion.

Joe Wituschek

Joe Wituschek is a Contributor at iMore. With over ten years in the technology industry, one of them being at Apple, Joe now covers the company for the website. In addition to covering breaking news, Joe also writes editorials and reviews for a range of products. He fell in love with Apple products when he got an iPod nano for Christmas almost twenty years ago. Despite being considered a "heavy" user, he has always preferred the consumer-focused products like the MacBook Air, iPad mini, and iPhone 13 mini. He will fight to the death to keep a mini iPhone in the lineup. In his free time, Joe enjoys video games, movies, photography, running, and basically everything outdoors.