Search
Close this search box.
Search
Close this search box.

Elon Musk will be the interim CEO of Twitter


A person familiar with the situation said that Elon Musk is likely to become Twitter’s interim CEO after completing his $US44 billion ($62 billion) takeover of the social media company. The billionaire is getting closer to getting the money he needs for the deal.

Musk is the richest person in the world. He is also the CEO of Tesla and runs The Boring Company and SpaceX.

Thursday, Tesla shares fell more than 8% because investors worried that Musk’s use of Twitter could take him away from running the world’s most valuable electric car company.

On the other hand, Twitter shares kept going up and were up about 1.8% at $50, which is closer to the deal price of $US54.20. Investors bet that the new funding made it more likely that the deal would go through.

The CEO of Twitter, Parag Agrawal, was named in November. He is expected to keep his job until the sale of the company to Musk is done. CNBC was the first to report on Thursday that Musk plans to take over as interim CEO of Twitter.

Musk announced earlier on Thursday that a group of high-profile investors, such as Oracle’s co-founder Larry Ellison and Sequoia Capital, are willing to put up $US7.14 billion ($10 billion) to help him buy Twitter.

Last month, Saudi Arabian investor Prince Alwaleed bin Talal said that the deal price was not enough for him to sell his shares. This month, he said that Musk would be an “excellent leader” for Twitter and agreed to roll his $US1.89 billion stake into the deal.

Alwaleed said in a tweet, “Great to connect with you, my “new” friend @elonmusk. Kingdom Holding Company and I look forward to rolling our roughly $1.9 billion into the “new” Twitter.”

Musk raised the amount of money committed to financing to $US27.25 billion, which includes commitments from 19 investors. At the same time, he lowered the amount of a margin loan from Morgan Stanley to $US6.25 billion. He has already made plans for loans worth $US13 billion.

The other investors are the cryptocurrency company Binance, the firm of New York real estate mogul Steven Witkoff, and DFJ Growth IV Partners, which has money in the Boring Company, SpaceX, SolarCity, and Tesla, among other companies.

Binance CEO Changpeng Zhao said, “We hope to help bring social media and web3 together and increase the use and adoption of crypto and blockchain technology.”

Reuters reported on Monday that Musk was in talks with large investment firms and high-net-worth individuals about getting more money to buy Twitter and putting less of his own money into the deal.

A regulatory filing says that Musk will continue to talk with Twitter shareholders, like the company’s former CEO Jack Dorsey, about contributing shares to the proposed takeover.

Larry Ellison, who is on the board of Tesla and calls himself Musk’s best friend, has put up $1 billion to help fund the project.

Elon Musk, who calls himself an “absolute free speech absolutist,” has pushed for user-friendly changes to Twitter, such as an “edit” button and stopping “spambots” that send out a lot of unwanted tweets. He has also said he would try to keep as many investors as possible on Twitter.

Investors have been worried about whether or not Musk will close the deal to buy Twitter.

At the last minute in April, he decided not to join Twitter’s board. Musk tweeted in 2018 that he had “secured funding” for a $US72 billion deal to take Tesla private, but he did not make a deal.

If Musk left Twitter, he would have to pay a $US1 billion fee to get out of the deal. Twitter could also sue him to finish the deal.

Apart from this. if you are interested, you can also read EntertainmentNumerologyTech, and Health-related articles here: The Resident Season 6Kraven The HunterOne Punch Man season 3The Resident Season 5Yellowstone season 5Ozark season 4 part 2PUBG Redeem CodeIs Windows 11 FreeKProxyHow to play Xbox Games on PCOzark Season 5How to cancel YouTube TVChurchill Car insuranceThe Rookie Season 5DownloadhubSsr Movies7starhdMovieswoodHow to Remove Bookmarks on MacOuter Banks Season 4How to block a website on ChromeHow to watch NFL games for freeDesireMovies, How to watch NFL games without cableHow to unlock iPhoneHow to cancel ESPN+How to turn on Bluetooth on Windows 10Outer Banks Season 3

6streams4AnimeMoviesflix123MKVMasterAnimeBuffstreamsGoMoviesVIPLeagueHow to Play Music in DiscordVampires Diaries Season 9Homeland Season 9Brent Rivera Net WorthPDFDriveSmallPDFSquid Game Season 2Knightfall Season 3CrackstreamKung Fu Panda 41616 Angel Number333 Angel Number666 Angel Number777 Angel Number444 angel numberBruno Mars net worthKissAnimeJim Carrey net worthBollyshareAfdahPrabhas Wife NameProject Free TVKissasianMangagoKickassanimeMoviezwapJio RockersDramacoolM4uHDHip DipsM4ufreeFiverr English Test AnswersNBAstreamsXYZHighest Paid CEOThe 100 season 8, and F95Zone

Thanks for your time. Keep reading!


Subscribe to Our Newsletter

Related Articles

Top Trending

BIOS Tweaks for Gaming Performance
7 Essential BIOS Tweaks For Maximum Gaming Performance
AI Web Hosting Automation Tasks
10 Web Hosting Tasks You Can Automate With AI
AI-Powered Tools for Web Design
7 AI-Powered Tools That Are Reshaping Web Design
Gameboy Games
10 Gameboy Games You Should Revisit Today
Cryptogonow.com Buy Crypto
Cryptogonow.com: Your Go-To Destination to Buy Crypto

LIFESTYLE

retirement cities in California
10 Best Retirement Cities in California for a Relaxed and Affordable Life
Mother's Day Around The World
Mother’s Day Traditions Around the World: Mother's Day 2025 Special
summer birthday party ideas
Creative Summer Birthday Party Ideas for Kids in 2025
May 6 Zodiac
May 6 Zodiac: Positive Traits, Compatibility and More about Taurus
self storage solutions for life transitions
How Self Storage Can Help During Major Life Changes (Divorce, Moving, etc.)?

Entertainment

punchmade dev net worth
Punchmade Dev Net Worth: Is The Rapper Really As Rich As He Claims
teddi mellencamp divorce amid cancer battle
Teddi Mellencamp and Edwin Arroyave Divorce Amid Cancer Battle
Gérard Depardieu sexual assault
Gérard Depardieu Found Guilty in Sexual Assault Case
Kim Kardashian Paris robbery
Kim Kardashian Breaks Down in Court Over $10M Paris Robbery
franco brie copyright lawsuit together film
Franco & Brie Face Legal Battle Over Alleged ‘Together’ Script Theft

GAMING

BIOS Tweaks for Gaming Performance
7 Essential BIOS Tweaks For Maximum Gaming Performance
Gameboy Games
10 Gameboy Games You Should Revisit Today
Forgotten Game Consoles
7 Forgotten Consoles That Were Ahead of Their Time
Best Remastered Games
The Best Remastered Games That Stay True to the Originals
CS2 Rank Advanced Techniques
Accelerating Your CS2 Rank: Advanced Techniques from the Competitive Scene

BUSINESS

Can ADA Continue
Can ADA Continue to a $100 Level?
Eco-Friendly Plumbing Companies That Save Water and Energy
10 Eco-Friendly Plumbing Companies Helping You Save Water and Energy Efficiently
legacy shave net worth
Legacy Shave Net Worth: What Happened After Shark Tank
Crypto Facto Fintechasia Net
Crypto Facto Fintechasia Net: Unveiling The Latest Trends In Fintechasia
best emergency plumbing companies in UK cities
Top 10 Emergency Plumbing Companies in UK Cities for Quick Solutions

TECHNOLOGY

BIOS Tweaks for Gaming Performance
7 Essential BIOS Tweaks For Maximum Gaming Performance
Cryptogonow.com Buy Crypto
Cryptogonow.com: Your Go-To Destination to Buy Crypto
SoftOrbits denoise and deblur tools
SoftOrbits adds web functionality to its denoise and deblur tools
How to Change Snapchat AI Gender
How to Change Snapchat AI Gender: An Easy 5-Step Guide
Promote Your NFT Project
10 Best Ways To Promote Your NFT Project And Gain Visibility

HEALTH

Egg Donation Procedure
The Egg Donation Procedure: What to Actually Expect
teddi mellencamp divorce amid cancer battle
Teddi Mellencamp and Edwin Arroyave Divorce Amid Cancer Battle
Oral Care
Beyond Brushing: The Ultimate Guide to Total Oral Care
Gaming and Cognitive Skills
Gaming and Cognitive Skills: The Science Behind How Games Boost Your Brain
Yimusanfendi
7 Incredible Benefits of Yimusanfendi Meditation and Possible Side Effects