Elon Musk May Fire Parag Agrawal as Twitter CEO, to Take Over Temporarily

Elon Musk May Fire Parag Agrawal as Twitter CEO, to Take Over Temporarily

  • Twitter's latest owner, Elon Musk may likely take over as CEO and fire the current CEO, Parag Agrawal
  • Sources said that former CEO and founder, Jack Dorsey is in support of Musk taking over a temporary CEO
  • Parag Agrawal was appointment last November and has said he is not sure about the direction of Twitter once the $44 billion deal is finished

Billionaire Businessman, Elon Musk may take over from the current Twitter CEO, Parag Agrawal when the deal for him to buy the platform is finalised.

He is expected to serve for a few months after completing the $44 billion takeover of the social media company, According to David Faber.

Elon Musk, Parag Agrawal. Twitter CEO
Elon Musk
Source: UGC

Over $7 billion given to Musk to buy Twitter

A Securities and Exchange filing on Thursday, April 5, 2022, shows that the Tesla CEO got approximately $7.14 billion in equity commitments from friends and other investors to acquire Twitter. Faber stated that Musk must have cherrypicked those who invested in the Twitter acquisition.

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Those who invested in the deal are Oracle which gave $1 billion and co-founder, Larry Ellison, $5 million from Asset Management company, Honeycomb.

According to Faber, Jack Dorsey, Twitter co-founder may support Musk as temporary CEO as Musk is currently talking to him about the possibility of contributing shares immediately or before closing the merger.

Future of current CEO unsure

The current CEO, Parag Agrawal has only been CEO for six months after taking over in November last year from Dorsey.

There have not been any talks if the possibility of Musk taking over as CEO would lead to a leadership reshuffle.

Reuters reported last week that Musk has picked a new CEO for Twitter, according to sources familiar with the matter.

Agrawal informed employees during a town hall meeting last month that the future of Twitter is not assured under Musk, another Reuters report said.

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He said once the deal is finalised it is uncertain which direction the platform will go.

Agrawal had said he would focus on growing Twitter’s daily active users and bringing new products to customers.

Elon Musk fans beg him for job on Twitter, weet at Him, Billionaire ignores them

Legit.ng has reported that some of Elon Musk’s fans have been begging him for Twitter jobs on the platform, although the billionaire’s deal is months away from being finalised.

Musk’s followers are hoping that there will be a lot of reshuffles or shake-ups when the deal is finally consummated, so they taking their shots.

One follower wrote on Twitter asking the richest man in the world to hire him as Vice President of Product, Nikita Bier who co-founded a positivity-focused app said.

Source: Legit.ng

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