With the Twitter-Musk deal expected to be concluded in the coming weeks, new reports have come up alleging that the billionaire will step up as temporary CEO of the social media platform. SpaceX and Tesla CEO Elon Musk is expected to momentarily assume the CEO position at the social media giant Twitter, after this deal to acquire the firm is finalized.
Based on a report by CNBC on Thursday (May 5, 2022), some anonymous sources said that Musk will serve as Twitter’s CEO for several months after the takeover of the firm. For now, Parag Agrawal is at the helm of the company until the deal is finalized. He started his tenure at Twitter in November 2021 after taking over from Jack Dorsey.
Jack Dorsey is a well-known bitcoin bull who stepped down after many years in charge of the social media giant. Nevertheless, it is yet to be seen whether Agrawal will stop being the firm’s CEO after the buyout is finalized. In the meantime, earlier reports were indicating that the Tesla boss already lined up the next CEO of the social media microblogging platform.
This latest development comes barely two weeks after the social media firm agreed to Musk’s $44 billion offer to acquire Twitter. Based on a filing with the United States Securities and Exchange Commission on May 5, the billionaire got new funding of more than $7 billion to buy the platform.
Some of the investors include the private investment company Honeycomb Asset Management with $5 million, and Larry Ellison, the co-founder of Oracle, with $1 billion. Elon Musk also got some backing from crypto exchange giant Binance, which put in $500 million.