No place for Parag Agrawal? Elon Musk expected to serve as temporary Twitter CEO after deal closes - CNBC
Elon Musk is expected to serve as Twitter Inc's temporary chief executive officer for a few months after he completes his $44 billion acquisition of the social media firm, CNBC reported on Thursday, citing sources. Musk is also the CEO of Tesla Inc. Currently, Twitter CEO is Indian-origin Parag Agrawal. Notably, Agrawal stands to gain $42 million if he is sacked after Musk takes over Twitter. Agrawal took over from co-founder Jack Dorsey after he quit the company.
(Bloomberg) Elon Musk’s $7.1 billion of new financing commitments to help him buy Twitter Inc. for $44 billion come from the the highest rungs of global finance -- and some familiar faces from his other ventures.
The Tesla Inc. co-founder won over the Saudi price who initially balked at his offer and brought aboard Larry Ellison, the 11th richest person on the Bloomberg Billionaires Index. He also got a half-billion-dollar commitment from cryptocurrency exchange Binance.
Musk, 50, also got hundreds of millions of dollars from Sequoia Capital, a big backer of his Space Exploration Technologies Corp., and Vy Capital, which has previously invested in his Boring Co. and Neuralink.
There might be more money to come. Twitter founder Jack Dorsey, whose stake is worth about $1 billion, is continuing to have discussions about keeping his holdings in the company, according to a Thursday regulatory filing.
Here are the large investors throwing big money behind Musk’s Twitter bid.
Alwaleed has pledged to roll over his nearly 35 million Twitter shares, according to Thursday’s filing, which are worth about $1.9 billion at a price of $54.20 per share.
With a $16.4 billion fortune, he’s the richest individual in Saudi Arabia, according to the Bloomberg Billionaires Index. Most of his
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