Elon Musk will be the temporary Twitter CEO on the buyout of the digital platform that was the center of the Democrat narrative, including blaming former President Donald Trump for January 6.
After announcing the firm's purchase for £35billion, many left leaners in the company and their supporters wailing. Later President Joe Biden announced a disinformation body after the sale was announced, and the media attacked the tech billionaire.
Elon Musk as Twitter CEO
According to CNBC, the tech mogul will lead the company for several months just after the takeover. Former Twitter CEO Parag Agrawal has only been in charge for a few months, despite taking over from co-founder Jack Dorsey in November, reported the Express UK.
The significant advancement in the new leadership role comes after it was announced that the world's richest man had 18 investors agreed to collectively invest more than £5.66 billion in shares to help finance his acquisition of Twitter, cited CNBC.
In a recent filing, he stated that Oracle Corp co-founder Larry Ellison's trust would provide $1 billion for the entire purchase cost of the social media site.
Musk has secured equity commitment letters from investors like Sequoia Capital worth £647.4 million and Brookfield amounting to £202.3 million. Other investors include Qatari Holding, £303.5m, and NYC real estate billionaire Steve Witkoff £80.9m.
Musk To Make Twitter a "Magnet for Talent"
In the latest filing, they will proceed to engage existing Twitter shareholders, notably Dorsey, to provide shares to the planned mega-merger, noted NBC News.
Last week, it was announced that Elon Musk is now in talks with huge financial groups and high-net-worth people, considering taking on more financing for the Twitter buyout and tying up less of his money in the deal when he becomes temporary Twitter CEO.
Twitter stock jumped to $50.17 per share in pre-trading following the investor news. The tech mogul has agreed to buy the social media behemoth for $54.20 per share, more than its April 1 closing price. It was the last trading day before he disclosed his approximately 9% investment on the site.
After agreeing to fold his $1.89 billion holding into the purchase rather than cash-out, Saudi Arabian billionaire Prince Alwaleed bin Talal heaped admiration, saying he would be a good leader for Twitter.
Last April 14, Prince Alwaleed disagreed with the bid because it was not enough. However, he has now tweeted that it was fantastic to meet his new friend.
In response, the prince said in a tweet that he would be an excellent leader for Twitter to accelerate and develop its tremendous potential. He went on to say that the Kingdom Holding Company is looking forward to investing $1.9 billion in the new Twitter and the exciting adventure ahead.
Agrawal, the current CEO of Twitter, has been in charge for much less than six months.
Reuters reported last month that the Tesla founder has lined up a new CEO for Twitter, citing a source familiar with the situation. Those familiar with the matter who spoke with CNBC's David Faber, Musk has lately been leading briefings in front of investors. He has offered financial projections based on his analysis of Twitter.
Elon Musk said he'll be the temporary Twitter CEO for a time after and pass it off to someone else and make the changes on the platform.
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