Former US president Donald Trump on Friday hailed the sale of Twitter to tech billionaire Elon Musk, saying he was pleased it was “now in sane hands”.
After months of speculation and legal melodrama, the world’s richest man confirmed that his $44-billion deal to acquire the company had been finalised. He began his tenure in charge by firing three of the company’s top executives.
Musk’s first decision will not come cheap. Based on their contracts, the three sacked executives stand to receive separation payouts totalling $122 million, the executive compensation research firm Equilar said.
The New York Stock Exchange halted trading of Twitter early Friday after Musk completed the takeover.
“I am very happy that Twitter is now in sane hands, and will no longer be run by Radical Left Lunatics and Maniacs that truly hate our country,” Trump said on his Truth Social platform.
Tesla chief Musk has indicated he would lift Trump’s Twitter ban, imposed in the wake of the 2021 assault on the US Capitol that the Republican leader was accused of inciting.
But Trump did not indicate whether he intended to make a comeback from his online exile.
The prospect of Musk running Twitter has alarmed activists who fear a surge in harassment and misinformation, with Musk himself known for trolling other Twitter users.
Far-right users celebrated the purchase, posting comments such as “masks don’t work” and other taunts, under the belief that moderation rules will now be relaxed.
Reporters on Friday morning noticed that the Twitter account belonging to Ye, formerly known as Kanye West, appeared to be no longer suspended.
The account was no longer listed as being suspended on the website. West had been booted off the pltform for making antisemitic comments.
“Twitter must now work hard to rid itself of all of the bots and fake accounts that have hurt it so badly. It will be much smaller, but better,” Trump said.
Trump had 89 million followers before he was banned from Twitter last year.
At the moment, former US president Barack Obama has the most popular account on Twitter, with 133.5 million followers.
He is ahead of Canadian singer Justin Bieber, who has 113.8 million followers.
Musk is third with 110.6 million followers.
US singer Katy Perry is the most followed woman on the network, with 108.9 followers.
