After a SEC document revealed that Elon Musk managed to secure $7.14 billion by investors to materialize his acquisition of Twitter, CNBC’s David Faber said the billionaire had chosen the investors himself.
Faber’s sources said Musk’s chosen investors would include Oracle co-founder Larry Ellison, with $1 billion ready to invest, and investment firm Honeycomb Asset Management, which has also invested in SpaceX, with $5 million.
Elon Musk and the new leadership of Twitter
So far, Twitter’s current CEO remains Parag Agrawal, who assumed leadership of the company in November following the departure of co-founder Jack Dorsey. After Elon Musk’s full buyout was made public, Dorsey said he was “happy” with the deal and that he trusted Musk and Agrawal to keep the social network serving the public conversation.
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However, Reuters reported in late April that, according to sources close to the matter, Musk had new leadership in place that included a CEO. Agrawal, for his part, told employees during a meeting that Twitter’s future was uncertain after the change of ownership.
In addition, Musk reportedly presented plans to investors in which he included financial projections for Twitter based on his analysis and told them that the company’s earnings were too low because it has “too many engineers not doing enough.”
The entrepreneur pledged to make Twitter a “magnet for talent” and, according to Faber’s sources, Jack Dorsey could back him up.