Elon Musk Reportedly to Serve as Twitter's Temporary CEO Following Takeover
The bid has already attracted massive investments from crypto firms and platforms.
Elon Musk is now expected to takeover as the temporary CEO of Twitter once his $44 billion USD takeover deal completes. According to CNBC‘s David Faber, the SpaceX, Tesla and Boring Company CEO will soon be taking on yet another CEO position once his Twitter buyout completes, although it’s said to only be a temporary arrangement for a few months until Musk finds a suitable candidate to replace himself with.
This also means that current Twitter CEO Parag Agrawal, who had only taken the position after Jack Dorsey’s departure last November, will soon be stepping down after just several months. Agrawal told employees in a companywide meeting earlier last month that the future of the social media platform remains uncertain under new ownership. “Once the deal closes, we don’t know which direction the platform will go,” he reportedly said.
The news also comes just as a group of investors have backed Musk’s takeover with a $7 billion USD fund. A large part of the group consists of firms dealing with cryptocurrency, including Binance, Fidelity and Seqoia Capital, who together are contributing more than $1.5 billion USD.
In other related news, Musk has changed his Twitter profile image to a collage of Bored Ape Yacht Club NFTs.
