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Elon Musk is reportedly set to temporarily serve as Twitter CEO after the acquisition

Tesla and SpaceX CEO Elon Musk is expected to temporarily take over the CEO position at social media giant Twitter after the deal to buy the company closes.

  • According to a report by CNBC on Thursday (May 5, 2022), anonymous sources revealed that Musk will serve as CEO of Twitter for a few months after acquiring the company.
  • Parag Agrawal, who is currently at the helm, assumed his leadership position at Twitter back in November 2021, having succeeded Jack Dorsey. The latter is a well known one Bitcoinadvocate who has resigned after years at the helm of the social media giant.
  • However, it remains to be seen if Agrawal will no longer be CEO of the company once the acquisition is complete. Meanwhile, previous reports have said that the Tesla boss is already eyeing the social media giant’s next CEO.
  • The latest development comes less than two weeks after the social media company agreed to Musk’s $44 billion bid to buy Twitter. According to a May 5 filing with the U.S. Securities and Exchange Commission, the billionaire raised over $7 billion in new funds to purchase the platform.
  • Some investors include private investment firm Honeycomb Asset Management with $5 million and Larry Ellison, co-founder of Oracle, with $1 billion. Musk also received support from cryptocurrency exchange giant Binance, which invested $500 million.

Featured image courtesy of Al Jazeera

Source: Crypto News Deutsch

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