Musk to lead Twitter temporarily after $44 billion takeover
Elon Musk is expected to become Twitter's temporary CEO after closing his $44 billion takeover of the social-media firm, a person familiar with the matter said on Thursday, as the billionaire inches closer to securing funds for the deal.
Musk, a self-proclaimed free speech absolutist who has advocated user-friendly tweaks to $Twitter (Delisted) (TWTR.US)$ , such as an edit button and defeating "spam bots" that send overwhelming amounts of unwanted tweets, has previously said he would try to keep as many investors in Twitter as possible.
Investors have been fretting over whether Musk will complete the $Twitter (Delisted) (TWTR.US)$ deal.
In April, he decided at the last minute not to take up a seat on Twitter's board. In 2018, Musk tweeted that there was "funding secured" for a $72 billion deal to take Tesla private but did not move ahead with an offer.
Musk would have to pay a $1 billion termination fee to Twitter if he walked away, and the social media company could also sue him to complete the deal. $Tesla (TSLA.US)$
Musk, a self-proclaimed free speech absolutist who has advocated user-friendly tweaks to $Twitter (Delisted) (TWTR.US)$ , such as an edit button and defeating "spam bots" that send overwhelming amounts of unwanted tweets, has previously said he would try to keep as many investors in Twitter as possible.
Investors have been fretting over whether Musk will complete the $Twitter (Delisted) (TWTR.US)$ deal.
In April, he decided at the last minute not to take up a seat on Twitter's board. In 2018, Musk tweeted that there was "funding secured" for a $72 billion deal to take Tesla private but did not move ahead with an offer.
Musk would have to pay a $1 billion termination fee to Twitter if he walked away, and the social media company could also sue him to complete the deal. $Tesla (TSLA.US)$
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