According to a new report, Musk has lined up a new CEO for the company and told banks that they will be able to help fund his $44 billion acquisition offer. A source told the news agency that Musk has decided who he will appoint as the new CEO of the micro-messaging service. The current CEO, Parag Agrawal, is expected to remain in the role until the deal is completed.
According to reports, Musk told Taylor that he does not have confidence in the company's management. According to the company's latest proxy filing, if the deal closes and Musk brings in new management, he would receive $38.7 million in compensation.
According to the report, Musk told banks that he plans to make more money from his social media presence. He said that he plans to create a way to make money off of social media. The idea of charging a fee for third-party websites to quote from verified accounts was suggested by him.
The Washington Post reported that Musk brought up the idea of paying celebrities to create content for the platform, which has proven to be successful for TikTok. Musk is said to be interested in the idea of a subscription service.
Musk suggested changes to the subscription service that is currently priced at $2.99 per month, in a deleted message from earlier this month. Musk suggested cutting the price, adding a way to pay, and banning advertising. In another now- deleted message, Musk said that he wants to move away from advertising for much of the company's revenue.
According to reports, Musk told the banks that he could cut executive and board pay at the company.
Musk spoke to bankers about job cuts as part of his pitch to the lender, according to a report. Musk won't make decisions on job cuts until he gets ownership of the company.
The transaction, which was unanimously approved by the board, will likely close this year, but Musk will have to pay a $1 billion termination fee if he doesn't. The terms of the agreement show that the same fee would have to be paid.
A complete timeline of the Elon Musk-Twitter saga
Twitter accepts Elon Musk’s $44B acquisition offer
All Rights Reserved © 2024
