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After five months of court and other turmoil between Elon Musk and Twitter Inc., the wayward billionaire finally owns a social network. The trading turmoil was just a preview of what was to come.
Musk has already fired much of Twitter’s executive team, including the chief executive officer, and will be the chief executive himself for the time being, according to people familiar with the matter. Public shareholders have transferred ownership to Musk and a hodgepodge of investors, including Oracle’s Larry Ellison and Qatar’s Sovereign Wealth Fund. The company will stop reporting financials unless Mr. Musk wants it. He is expected to make significant headcount reductions, particularly in non-product and non-engineering roles.
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