Elon Musk To Serve As Temporary Twitter CEO After Finalization: Report
With the Twitter-Musk deal expected to be completed soon, new reports reveal that the billionaire will be set up as temporary CEO.
Tesla and SpaceX CEO Elon Musk is expected to temporarily take the CEO position at the social media giant Twitter, after the deal to buy the firm is concluded.
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As stated by a report by CNBC on Thursday (May 5, 2022), anonymous sources revealed that Musk will serve as Twitter’s CEO for a few months after the takeover of the company. Parag Agrawal, who is currently at the helm, began his leadership position at Twitter back in November 2021, after taking over from Jack Dorsey. The latter is a well-known bitcoin proponent who stepped down after years in charge of the social media giant.
Although, it remains to be seen if Agrawal will stop being the firm’s CEO after the buyout is finalized. Meanwhile, recent reports were stating that the Tesla chief already lined up the next CEO of the social media giant.
The latest development comes less than two weeks after the social media company agreed to Musk’s $44 billion offer to buy Twitter. According to a filing with the U.S. Securities and Exchange Commission on May 5, the billionaire received new funding of over $7 billion to purchase the platform.
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Some investors include private investment company Honeycomb Asset Management with $5 million, and Larry Elison, co-founder of Oracle, with $1 billion. Musk also received backing from cryptocurrency exchange giant Binance, which invested $500 million.
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