Elon Musk

Of the world's richest individuals tracked by the Bloomberg wealth index, it is reportedly said that only Mark Zuckerberg, Changpeng Zhao and Elon Musk have taken a larger hit, though that could change by week's end.

Elon Musk intends to replace Parag Agrawal, who was fired along with other major executives following the takeover, according to a person familiar with the situation. The billionaire is expected to remain CEO in the interim but may cede the position in the long run.

Agrawal, who was appointed Twitter's chief executive last year had clashed with Musk publicly and privately in recent months about the takeover. Musk had also "singled out" Gadde, "criticising her for her role in content moderation decisions at the company".

Elon Musk posted a video of himself walking into the Twitter building while holding a sink with the caption, "Entering Twitter HQ - let it sink in." He'd changed his bio on his page to "Chief Twit" just hours before, giving the impression that he was the company's top official.

Earlier on Thursday, the Washington Post reported that Elon Musk told prospective investors in his deal to buy Twitter that he planned to lay off nearly 75 per cent of the company's 7,500 employees, citing interviews and documents.

Elon Musk answered a question during a call after the electric vehicle maker's quarterly report. "Myself and the other investors are overpaying for Twitter at the moment. Twitter's long-term potential, in my opinion, is orders of magnitude greater than its current value," he said.

Elon Musk also said that the perfume can be purchased using cryptocurrency as well. He wrote on Twitter, "And you can pay with Doge!"

The court case was put on hold until October 28 at 5 p.m. EDT so that Musk, the CEO of electric car maker Tesla Inc., could finance the transaction. Judge Kathaleen McCormick instructed the parties to get in touch with her to set up a November trial if the deal did not conclude by her deadline.

"The intention of the company is to close the transaction at $54.20 per share," Twitter said in a tweet confirming the billionaire entrepreneur is apparently abandoning his legal battle to terminate the deal.

Ukraine’s ambassador to Germany has fired back at Elon Musk after the Tesla boss tried out a Twitter poll to end the Russian invasion of Ukraine. Musk floated a number of ideas to solve the conflict, asking his followers to vote “yes” or “no” on his proposals.