Billionaire Elon Musk could become Twitter’s interim CEO after striking a deal to buy the social network for $44 billion, CNBC writes, citing informed sources. It is reported that the position of billionaire will last a few months.
Musk received an estimated $7.14 billion more in debt from friends and other investors to buy Twitter, according to documents filed Thursday with the SEC. In addition, Elon Musk personally selected the investors.
CNBC reporter David Faber said the pledges range from $1 billion from Oracle co-founder Larry Ellison to $5 million from Honeycomb Asset Management, which has invested in SpaceX. Faber added that Twitter co-founder Jack Dorsey could support Elon Musk and the billionaire is in talks with him about it.
The fate of Twitter CEO Parag Agrawal, who replaced Dorsey just a few months ago, remains unclear. According to Reuters, Agrawal told employees during a company meeting last month that it was not yet clear what the future of Twitter would be under Musk.
“We don’t know which direction the platform will go once the deal closes,” Agrawal was reportedly responding to a question about whether the company might allow former US President Donald Trump to return to the platform after the deal closes. Trump was permanently banned from Twitter last year.