Elon Musk fired several employees of Twitter, including its then-CEO Parag Agrawal, after he took over the microblogging platform in a $44 billion deal in October 2022. Now, a report reveals that Musk found Agrawal lacking a key “leadership quality” and that was the reason he fired him a few days after taking over Twitter.
According to a Wall Street Journal report, Musk met then-Twitter CEO Parag Agrawal over dinner in March 2022, ahead of announcing his offer to take over Twitter. Musk found a major leadership quality missing in Agrawal after the meeting.
The report published an expert from the upcoming biography of Elon Musk written by Walter Isaacson and it revealed why Musk fired Agrawal after taking over Twitter. Isaacson has been closely tracking all the developments concerning the Tesla CEO for the last three years to write the biography.
“He's a really nice guy. What Twitter needs is a fire-breathing dragon and Parag is not that,” Musk said after the meeting, the excerpt reveals.
In April 2022, when Musk acquired Twitter, the platform was valued at $44 billion. Later in October 2022, Parag Agarwal was fired. In addition to Agarwal, Musk also fired other top-level executives of the company. After Agarwal exited the company, Musk acted as Twitter’s CEO. However, in June 2023, he stepped down from the position and appointed Linda Yaccarino as the new CEO of Twitter.
Along with that, the name of the brand has been changed from Twitter to X and has been in the process of getting transformed completely. In the last couple of weeks, X has been introduced with several changes such as the platform now has the option of audio and video calls, changes in data collection and many more.
(Edited by : Sudarsanan Mani)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Elections 2024 | Assault allegations or political accusations— what's Swati Maliwal controversy all about
May 19, 2024 2:25 PM
Phase five Lok Sabha polls: Rae Bareli, Amethi among 14 UP seats going to polls on Monday
May 19, 2024 1:03 PM
AAP protest walk: Arvind Kejriwal challenges BJP to arrest entire party, Delhi Police imposes Section 144
May 19, 2024 12:26 PM
Terror attacks in Kashmir raise concerns ahead of May 20 and May 25 election
May 19, 2024 12:15 PM