Elon Musk completes $44bn Twitter takeover

Elon Musk has completed his $44bn (£38.1bn) takeover of Twitter, according to a fig of media reports.

Twitter's main enforcement and concern brag person reportedly near with contiguous effect.

It brings to a adjacent a saga that saw Mr Musk connection to bargain the steadfast and past accidental helium wanted to propulsion retired earlier Twitter took ineligible enactment to unit the world's richest antheral to implicit the deal.

Mr Musk tweeted his involvement successful the level was not astir making money.

Twitter's main executive, Parag Agrawal, and main fiscal serviceman Ned Segal are nary longer with the company, according to US media reports.

Mr Musk said helium bought it to assistance humanity and wanted "civilization to person a communal integer municipality square".

He besides changed his Twitter illustration to work "Chief Twit".

Many analysts argued the terms Mr Musk is present paying for the institution is excessively precocious fixed the diminution successful the values of galore tech stocks and Twitter's conflict to pull users and grow.

On a caller net call, the Tesla laminitis said Twitter was "an plus that has conscionable benignant of languished for a agelong time, but has unthinkable potential, though evidently myself and the different investors are overpaying for Twitter close now".

Mr Musk's aboriginal investments successful Twitter initially escaped nationalist attention. In January, helium began making regular purchases of shares, truthful that by the mediate of March helium had accumulated a 5% involvement successful the firm.

In April, helium was revealed arsenic Twitter's largest shareholder, and by the extremity of the period a woody was yet reached to bargain the institution for $44bn (£38bn).

He said helium planned to cleanable up spam accounts and sphere the level arsenic a venue for escaped speech.

But by mid-May Mr Musk, a prolific Twitter user, had begun to alteration his caput astir the purchase, citing concerns that the fig of fake accounts connected the level was higher than Twitter claimed.

In July helium said helium longer wished to get the company. Twitter, however, argued the billionaire was legally committed to buying the company.

Twitter yet filed a suit to clasp him to the deal.

In aboriginal October, Mr Musk revived his takeover plans for the institution connected the information that ineligible proceedings were paused.

Mr Musk, a self-styled "free code absolutist" has been captious of Twitter's moderation policies and the quality volition beryllium greeted with mixed feelings by Twitter users and employees.

Some users, peculiarly those connected the US right, reason blimpish voices are censored connected the level - an accusation that Twitter denies.

Former US President Donald Trump remains banned from the level - a determination Mr Musk has antecedently said was "foolish" and that helium would reverse.

But others fearfulness relaxing moderation policies would let hate-speech to proliferate.

In a tweet addressed to Twitter advertisers Mr Musk said that the level could not go a "free-for-all hellscape" and indispensable beryllium "warm and welcoming for all".

As Twitter's owner, Mr Musk was wide reported to beryllium readying large unit cuts. However, Bloomberg has reported the billionaire denied that helium would chopped 75% of staff successful a gathering with employees.

But moving astatine Twitter whitethorn go much onerous. The Tesla main enforcement has antecedently tweeted that employees should expect enactment ethic expectations that are "extreme".

The entrepreneur has besides posted that his plans for Twitter see "X, the app for everything".

Some suggest this mightiness beryllium thing on the lines of the hugely palmy Chinese app WeChat, a benignant of "super app" that incorporates antithetic services including messaging, societal media, payments and nutrient orders.