In addition to owner, Elon Musk, who completes the purchase of Twitter for 44,000 million dollars, could also be the CEO of the company. At least for a few months, according to reports CNBC. The tycoon would replace Parag Agrawal, current CEO, and would have the support of Jack Dorsey, one of the founders of the social network and who was also in charge of Twitter for several years.
Musk, for the moment, is in talks with bankers and investors to obtain the necessary financing to close the agreement with the Twitter board of directors. The also CEO of Tesla and SpaceX, in particular, needs to deposit 21,000 million dollars from his own pocket, and has already raised 7,140 million dollars “in capital commitments from friends and other investors”, as highlighted by the aforementioned medium through documents of the SEQ.
Larry Ellison, co-founder of Oracle, could have invested a billion dollars in the purchase of Twitter by Elon Musk, while the investment firm Honeycomb Asset Management would have deposited 5 million dollars, according to CNBC. The list of possible investors, however, goes much further, and includes companies such as Binance, Andreessen Horowitz or a16z.
Once Elon Musk gets enough to close the deal, the tycoon would temporarily become CEO of Twitter. At least until he gets a new person for the job. According to Reutersthe billionaire I would already consider a new CEO for Twitteralthough there are no more details about it.
Elon Musk doesn’t want Parag Agrawal as Twitter CEO
Elon Musk’s decision to be CEO of Twitter on a temporary basis could be a strategy to accelerate the departure of Parag Agrawal as head of Twitter. Musk, in fact, always positioned against the ideas of the Indian engineer, and has made fun of him on more than one occasion through his Twitter profile. Agrawal, remember, was released as CEO of Twitter last November, just a few months ago.
Elon Musk, for his part, suggested that investors make important changes from the moment the company was transferred to his name. . The tycoon said that he planned cut back on employees to save money to make it profitable. He also assured that he would dispense with the company’s board of directors, which is currently made up of 11 million dollars. This latest movement, in fact, would save Twitter about 3 million dollars a year.