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Multiple media outlets reported Thursday night that the sale of the company to Musk had been completed.
The Wall Street Journal, Washington Post, and others said that the top executives of the company were fired and escorted from the building.
Will it feel like a victory when Musk takes it?
The acquisition ended months of legal wrangling after Musk offered to buy the company. The social media company sued Musk after he tried to back out of the deal. The deadline was Friday to complete the deal.
Civil-rights advocates say that the purchase of the social network by Musk puts our democracy at stake.
Thursday morning, Musk signaled a deal was imminent when he sent out a statement to assure advertisers that his plans for content moderation were not going to affect their business. Musk said that one of the reasons he bought the platform was due to complaints from people who have been banned from the service for violating its terms of service.
Anything can be said with no consequences on the social networking site. He told advertisers in his statement Thursday.
A request for comment was not immediately returned by the social networking site.
Over the past month, the share price of the social media company has risen 26%, closing Thursday at $53.70.
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