Elon Musk OR Parag Agrawal: WHO will now RUN Twitter after mega $44 billion deal
Elon Musk or Parag Agrawal: After Elon Musk’s finalized deal of $44 billion of his Twitter takeover, who will run the company? Find out.
Elon Musk or Parag Agrawal? Who will now run the big blue bird now that the Tesla CEO confirms the Twitter acquisition deal? In the wee hours of April 26, Elon Musk and the Twitter board revealed the mega deal and its details. By the end of 2022, Elon Musk will have completed his acquisition deal, adding Twitter to the long list of companies he commandeers. The deal is valued at $44 billion and Musk has already outlined his future plans for Twitter's future.
As part of the deal, Elon Musk has secured $25.5 billion of fully committed debt and margin loan financing, says Twitter. He is providing an approximately $21.0 billion equity commitment and there are no financing conditions to the closing of the transaction. However, the deal is yet to figure out who will run the show at Twitter now that Twitter changes its ownership. Let's explore.
Musk or Agrawal: Who will run Twitter?
At the moment, the deal details are yet to reveal anything related to that. However, based on the company's announcement, it seems that the Twitter management could continue to stay unchanged as of now, with Parag Agrawal at the driver's seat. The statements were released from Agrawal and chairman Bret Taylor, which suggest they are still serving their roles at Twitter.
Things could change in the future. In the past, Musk had consistently expressed his dissatisfaction with the current management, which was one of the reasons for him to consider buying Twitter as a whole. In his proposal letter to Twitter a few weeks ago for buying the company, Musk said, “I am not playing the back-and-forth game. I have moved straight to the end…If the deal doesn't work, given that I don't have confidence in management nor do I believe I can drive the necessary change in the public market.”
Hence, there is a possibility that Musk may ask Agrawal to go and could run the show on his own. He could also appoint someone else to do the job. Musk has big plans for Twitter, as outlined already in his recent statements.
“I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it,” said Musk in his statement.