According to CNBC’s David Faber, citing unnamed sources, Elon Musk will temporarily become CEO of Twitter after the $44 billion acquisition of the social network is completed. He will run the company for “a few months”.
While raising funds for his takeover bid, the billionaire told banks he was considering a new CEO for Twitter, without naming who would take on the role, Reuters reported. Parag Agrawal, who took over from co-founder Jack Dorsey in November, is expected to remain CEO until the deal closes. Twitter shareholders have yet to approve the deal, which is expected to close in about six months.
A filing with the U.S. Securities and Exchange Commission revealed that Elon Musk has raised $7 billion in new financial commitments from a group of 19 investors, including Oracle co-founder Larry Ellison, Saudi Arabia’s Prince Al-Waleed bin Talal, and cryptocurrency platform Binance. This new funding makes the operation less risky for Elon Musk and his creditors, according to Bloomberg.
Since announcing his intention to acquire Twitter, the Tesla and SpaceX boss has made no secret of his desire to make fundamental changes to the social network, such as easing content moderation or providing paid access for certain groups, such as governments and businesses.
CNET.com article adapted by CNETFrance /Image: Sarah Tew/CNET