Elon Musk Expected to serve as Temporary CEO of twitter In the months after he completed the $ 44 billion acquisition of social media company, sources told CNBC. David Favor..
Ann SEC filing Thursday clearly Musk has secured an equity commitment of approximately $ 7.14 billion from friends and other investors to purchase Twitter. According to Farber, Musk has carefully selected investors.Commitment from $ 1 billion Oracle Co-founder Larry Ellison From Honeycomb Asset Management, which invested in SpaceX, to $ 5 million. Mr. Farber added that Twitter co-founder Jack Dorsey could support it, and Mr. Musk told him about the possibility of donating shares shortly before or before the merger was completed. ..
Twitter CEO Parag Agrawal has led the company for only a few months after taking command of Dorsey. Last November.. So far, there has been little debate about whether Musk’s acquisition of a company would lead to leadership turmoil. last month, Reuters Musk reportedly listed the new CEO of Twitter, citing sources familiar with the matter.
Agrawal told employees at a company-wide town hall meeting last month that Twitter’s future is uncertain under musk. Another reuters report..
“Once the deal is closed, we don’t know which direction the platform will go,” Agrawal said when asked if the company would allow former US President Donald Trump to return to the platform when Musk took over. rice field. Mr. Trump was permanently suspended from Twitter last year.
The acquisition of Twitter by Musk is an important time for the company. Agrawal says it will focus on expanding Twitter’s daily active user base and delivering new products to its customers. The company’s latest earnings report is on Twitter. Said it was a hit The number of monetizable daily active users was 229 million, an increase of 15.9% over the same period last year.
CEO Musk Tesla SpaceX recently led a presentation in front of investors and made financial forecasts based on Twitter analysis, according to sources familiar with the situation when talking to Faber.
Musk told investors that Twitter’s interest, taxes, depreciation and pre-amortization earnings were too low, and the company “has too many engineers to work well.” Musk also promised that he would make the company a “magnet of talent,” Faber added.
Twitter share rose 2.8% on Thursday. Tesla’s share price fell by more than 8% as the market sold out.
Twitter representatives declined to comment.
look: Elon Musk’s challenge is to fix it, not buy Twitter, says Dan Ives of Wedbush.
