Trolls lose their minds after reports Elon Musk may become interim Twitter CEO after takeover
Elon Musk, chief executive of Tesla and SpaceX, is expected to take over as a temporary CEO of Twitter for a few months after he completes his $44 billion takeover of the social media company, sources told CNBC’s David Faber. Musk has raised $7.1 billion for his Twitter acquisition from investors that include Oracle founder Larry Ellison and Saudi Prince Alwaleed bin Talal, according to securities filing Thursday, May 6. Faber said: "Musk handpicked the investors."
The chief executive of Tesla listed 18 investors who agreed to cash investments including Ellison, Sequoia Capital and Vy Capital. Commitments range from $1 billion from Oracle co-founder Larry Ellison to $5 million from Honeycomb Asset Management, which invested in SpaceX. The other investors include crypto firm Binance, New York-based real estate tycoon Steven Witkoff's firm and DFJ Growth IV Partners, which has investments in the Boring Company, SpaceX, SolarCity and Tesla.
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Twitter’s current CEO Parag Agrawal, who took the role after Jack Dorsey stepped down in November, is expected to remain as CEO until the deal is completed. Last month, Musk announced he had acquired a 9.2% stake in Twitter, and offered to buy the entire company for $44 billion days later. The company’s board initially tried to block the offer, but later accepted it after Musk disclosed he had $46.5 billion in financing. Tesla shares dropped over 8% on May 5, as investors fretted that Musk's involvement with Twitter could distract him from running the world's most valuable electric-car maker.
People on social media are lashing out as they are not happy with Musk taking over Twitter. People wanted him to focus on his other companies rather than taking control of one of the biggest social media platforms. One user commented "@tesla and @spacex shareholders should sue him over this. It's clearly not in either company's long-term self interest and a violation of his fiduciary duty to them." Another wrote "I will stop using my account on the completion of his purchase. I will not close my account, because I reserve ownership of all content that I created from my devices connected to Twitter. Also I will reserve the right to communicate when Musk is wrong on his own platform." "Temporary??? That supposed to make you feel better." a third user commented. "My condolences," a fourth user said. A fifth person wrote "But Why???."
@tesla and @spacex shareholders should sue him over this. It's clearly not in either company's long-term self interest and a violation of his fiduciary duty to them
— Scott #AbolishThePolice #ACAB Menor (@smenor) May 5, 2022
🤮 I will stop using my account on the completion of his purchase. I will not close my account, because I reserve ownership of all content that I created from my devices connected to Twitter. Also I will reserve the right to communicate when Musk is wrong on his own platform.
— Donald W. (@Donengene) May 5, 2022
Tim Young, an author, host, and comedian commented, "If you think you're having a rough day... imagine being one of the purple haired, woke, genderless they/thems at Twitter and finding out that Elon Musk is going to be the CEO for a few months."
If you think you're having a rough day... imagine being one of the purple haired, woke, genderless they/thems at Twitter and finding out that Elon Musk is going to be the CEO for a few months.
— Tim Young (@TimRunsHisMouth) May 5, 2022