- Tesla, Inc (NASDAQ:TSLA) chief Elon Musk will likely serve as Twitter, Inc's (NYSE:TWTR) temporary CEO for a few months post the $44 billion takeover closes, CNBC reports.
- As per sources to CNBC's David Faber, Musk recently led investor presentations offering financial projections based on his analysis of Twitter.
- Musk complained against Twitter's EBITDA margin being low with "too many engineers not doing enough," pledging to make the company a "magnet for talent,"
- Musk recently secured $7.14 billion in equity commitments from handpicked friends and other investors to buy Twitter.
- The equity commitments range from $1 billion from Oracle Corporation (NYSE:ORCL) co-founder Larry Ellison to $5 million from Honeycomb Asset Management, which invested in Musk-led SpaceX.
- Twitter co-founder Jack Dorsey may back the equity commitments.
- According to Faber, Musk is negotiating with Dorsey about the possibility of contributing shares immediately or before the closing of the merger.
- Previously media reports cited that Musk had lined up a new CEO for Twitter, leaving the current CEO Parag Agrawal's fate undecided.
- TWTR Price Action: TWTR shares traded higher by 2.98% at $50.52 on the last check Thursday.
- Photo via Wikimedia Commons
