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Musk Takes Twitter Helm, Enacts Sweeping Change as Deal Closes

  • Musk plans on replacing ousted CEO Parag Agrawal for now
  • The billionaire also intends to scrap lifelong bans on users
Bloomberg business news
WATCH: Elon Musk is said to have completed his $44 billion acquisition of Twitter Inc.  Ed Ludlow reports on Bloomberg Television.Source: Bloomberg
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Elon Musk wasted no time taking complete control of Twitter Inc. The billionaire appointed himself chief executive officer, dismissed senior management and immediately began reshaping strategy at one of the world’s most influential social media platforms as his $44 billion take-private deal closed.

Musk, 51, is replacing Parag Agrawal, who was fired along with three other top executives, a person familiar with the matter said, asking not to be identified discussing internal deliberations. The mercurial entrepreneur, who also leads Tesla Inc. and SpaceX, may eventually cede the Twitter CEO role in the longer term, the person added. Twitter representatives declined to comment.