It is true; from now on, Elon Musk officially acquired Twitter for the price of $44 billion alongside Binance, which invested half a billion dollars, helping Musk realize a new vision for Twitter and aiming “to play a role in bringing social media and Web3 together in order to broaden the use and adoption of crypto and blockchain technology”, Binance CEO “CZ” told to Decrypt.
A Warm Welcome From Elon Musk
Musk’s first move as the new owner of Twitter was remarkable. He reportedly fired some top executives from the directors’ board. According to different sources, Elon fired the CEO, Parag Agrawal, the CFO, Ned Segal, and Twitter’s top legal counsel, Vijaya Gadde.
However, those important executives fired will receive big money in compensation: Parag Agrawal, $42 million, Ned Segal, $24.4 million and Gadde, $12.5 million.
“The bird is free,” he tweeted a few hours ago.
Binance’s Role in Helping Musk Acquire Twitter
Yes, it is true, and by the way, it is not breaking news. An article from Bloomberg back in May says that Binance backs Musk’s bid with an eye on bringing Twitter to Web3.
“We’re excited to be able to help Elon realize a new vision for Twitter. We hope to be able to play a role in bringing social media and web3 together and broadening the use and adoption of crypto and blockchain technology.”
Changpeng Zhao, or “CZ”. CEO of Binance
Binance, however, is not the only investor in the game, as big names helped with Elon’s Twitter acquisition, including Bank of America, Morgan Stanley, and Barclays, reportedly each committing at least $24.5 billion in debt financing, according to Forbes.
Yesterday October 27th, Twitter announced that it would bring Tweet Tiles pilot to five of the most famous NFT marketplaces, and if it proves successful, the Tweet Tiles feature could be rolled out to all users on Twitter.