Elon Musk Faces Legal Battles and Financial Losses Post-Twitter Takeover

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In a legal showdown, Elon Musk faces backlash over his 2022 takeover of Twitter. After firing over 6,000 employees, including then-CEO Parag Agrawal, Musk became entangled in multiple lawsuits, including a claim for $500 million in severance promises. A recent ruling saw Musk victorious as Judge Thompson dismissed the case due to procedural notifications post-takeover. Twitter’s workforce has shrunk from 8,000 to 1,500 following Musk’s cost-cutting measures, yet X Corp. reported significant losses of $456 million in the first quarter of 2023. Additionally, Musk still faces lawsuits from Agrawal and other former executives seeking $128 million in severance, alongside claims from senior employees totaling over $1 million.

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