MOSCOW, October 28. /TASS/. Billionaire Elon Musk completed the deal to acquire social network Twitter bringing an end to several months of litigation. The $44 bln deal was closed on Thursday, October 27.

Musk will likely serve as the company’s CEO temporarily. The entrepreneur reportedly plans to turn Twitter into a private company, lay off 75% of its staff and give users the opportunity to discuss a variety of issues in a "healthy" manner.

Elon Musk bought Twitter for $44 bln, using debt financing from several banks. Financial Times reported that the deal was closed citing sources, while Musk just twitted "the bird is freed."

According to CNBC’s sources, "Twitter CEO Parag Agrawal and finance chief Ned Segal have left the company’s San Francisco headquarters and will not be returning", while Musk himself is expected to lead the company for some time.

Before closing of the deal, Musk changed his Twitter profile description to "Chief Twit". "Entering Twitter HQ - let that sink in!" he tweeted on Wednesday, posting a video of himself in the company’s San Francisco lobby carrying a literal sink.

Bloomberg reported earlier citing a source that Musk might remove the platform’s practice of permanently banning users. "Musk intends to do away with permanent bans on users because he doesn’t believe in lifelong prohibitions, the person said. That means people previously booted off the platform may be allowed to return, a category that would include former president Donald Trump, the person said. It’s unclear however if Trump would be allowed back on Twitter in the near term," Bloomberg writes.

Musk said earlier he believes that Twitter should become a fair forum for people with a wide range of beliefs.

Meanwhile, back in April Trump said he hoped Musk would buy Twitter, but had no plans to return to the social network even if his account was not banned.