Elon Musk is expected to fill the role of Twitter’s interim CEO after the deal closes: report

Elon Musk is likely to take over as Twitter Inc’s interim CEO for a few months after completing his $ 44 billion purchase of the social media company,
This was reported by the CNBC economic news channel on Thursday.

Musk is also the CEO of Tesla Inc and heads two of its other ventures, SpaceX and The Boring Company.

India-born Parag Agrawal, who was named CEO of Twitter in November last year, is expected to remain until the company is sold to Musk, the report said.

According to Reuters, the
Tesla CEO has created a new CEO for Twitter.

Prepare the war chest

On Thursday, Musk announced a group of high-profile investors, including Oracle co-founder Larry Ellison and Sequoia Capital, that they are willing to invest $ 7.14 billion in his Twitter offering.

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Prince Alwaleed bin Talal, a Saudi Arabian investor who had previously claimed the selling price was insufficient to sell his shares, thought
Musk would be an “excellent leader” for Twitter and agreed to invest its $ 1.89 billion in the deal.

“It’s great to get in touch with you, my” new “friend @elonmusk … Kingdom Holding Company and I can’t wait to invest our ~ $ 1.9 billion into the” new “Twitter,” Alwaleed said. in a tweet.

Legal problems

Meanwhile, the US Federal Trade Commission (FTC) is looking into Musk’s $ 44 billion acquisition of Twitter, Bloomberg reported Thursday, citing a person familiar with the deal.

Musk must notify the FTC and the Department of Justice of the purchase and wait at least 30 days before closing to allow for a review of potential antitrust issues, under US merger laws. The FTC is also looking into whether Musk should have notified authorities when he bought a 9% stake in the company in March.

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