After many months of back-and-forth negotiations, Elon Musk purchased Twitter, taking the company private after declaring “I did it to try to help humanity, whom I love”.

Forbes called it “The Beginning Of A Musk Controlled Twitter Era”. The Verge has been generally critical of the buyout, with a headline declaring “Welcome to hell, Elon. You break it, you buy it.” Cointelegraph reported on the immediate firing of Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal, and legal affairs and policy chief Vijaya Gadde. Several employees had reportedly left Twitter for rival tech companies prior to the takeover.

Super app

Musk has said he has ambitions for Twitter to be a super app named X, which could be similar to WeChat. He has in the past expressed admiration for the Chinese app that functions as a messaging, social, and payments platform.

Many of the tech giants are branching into fintech, so Twitter faces stiff competition. Meta and Google are working on offerings. Amazon recently announced plans to branch into the insurance space.

The memecoin Doge, endorsed by Musk, gained 70% over the weekend on speculation it might be integrated as a form of payment on Twitter.

Musk kept his feed light-hearted following the deal, tweeting about carbs and pastries.